Apple CEO Tim Cook will be joining President Donald Trump at the White House on Wednesday afternoon to jointly announce Apple's $100 billion U.S. investment.
Apple is expected to be making an additional investment into manufacturing in the United States later on Wednesday, as part of a planned announcement at the White House. Following reports that there will be an announcement and that Apple CEO Tim Cook will be in attendance, there's now a predicted time for it to take place.
A White House official told CNBC that there will be an announcement by both Cook and Trump that will be held in the Oval Office. That event will occur at 4:30 p.m. Eastern.
The meeting is described as Apple committing to a new "American Manufacturing Program." The official also confirmed that the $100 billion investment is in addition to a $500 billion commitment made by Apple in February, bringing the total investment over the next four years to $600 billion.
Apple has yet to confirm the investment's details, but it will probably provide more information about it after the Oval Office event.
February's $500 billion commitment was said by Apple to cover multiple facets of its U.S. operations. This includes doubling the Advanced Manufacturing Fund, which is used by manufacturers that form the Apple supply chain.
That fund also covered the opening of an advanced manufacturing facility in Houston to make servers to support Apple Intelligence. Other investment plan points include a new manufacturing academy in Michigan and increased U.S.-based research and development.
