Apple to spend billions on US-made 5G tech

US tech giant Apple announced a multi-billion-dollar collaboration with US tech firm Broadcom to make "cutting edge" components for wirelessly connecting to high-speed 5G telecom networks.

The iPhone maker did not specify exactly how many billions of dollars it would put into the Broadcom alliance, but said it is part of a commitment to invest in the US economy.

"We're thrilled to make commitments that harness the ingenuity, creativity, and innovative spirit of American manufacturing," Apple chief executive Tim Cook said in a statement on Tuesday.

"All of Apple's products depend on technology engineered and built here in the United States, and we'll continue to deepen our investments in the US economy because we have an unshakable belief in America's future."

The alliance will include designing and manufacturing sophisticated radio frequency components and other "cutting-edge wireless connectivity" parts in the United States, according to Apple.

"5G technology is shaping the future of next-generation consumer electronics -- and Apple is spending tens of billions of dollars to develop this field in the United States," the company said.

Apple is on pace to meet a commitment it made in 2021 to invest $430 billion in the US economy over the course of five years, according to the Silicon Valley technology titan.

It said those investments include money put into data centers, capital projects and suppliers.