Tech giant Apple is planning to invest $1B to start development of a new R&D campus in the Research Triangle region of North Carolina. The company didn’t offer details on the size of the campus, but it did say it would support at least 3,000 new machine learning, artificial intelligence, software engineering and other tech jobs.
The development is part of plans for $430B in investments and the addition of 20,000 new jobs over the next five years, Apple announced on Monday. That total will include direct spending with U.S. suppliers, data center investments and other capital expenditures in the U.S., including on a number of facilities for Apple TV+ product in 20 states.
Apple has a market capitalization of more than $2 trillion. During its first fiscal quarter of 2021, which ended Dec. 26, 2020, the company posted all-time record revenues of $111.4B, up 21% year-over-year.