Apple is investing $500 billion into the U.S. economy, marking a major milestone in the company’s commitment to American innovation. This historic initiative, announced on Monday, is set to unfold over the next five years.

The investment will fund the construction of an advanced AI server manufacturing facility near Houston and the expansion of Apple’s Advanced Manufacturing Fund, which will grow from $5 billion to $10 billion.

Apple also plans to create an Apple Manufacturing Academy in Detroit and hire 20,000 new employees. These hires will focus on key areas like research and development, silicon engineering, artificial intelligence, and machine learning.

“This new pledge builds on Apple’s long-standing history of investing in American innovation and advanced manufacturing,” the company said in a statement. “It will support initiatives focused on AI, silicon engineering, and developing skills for students and workers across the U.S.”

Apple’s plans include expanding teams and facilities in several states, including Michigan, Texas, California, Arizona, Nevada, Iowa, Oregon, North Carolina, and Washington. CEO Tim Cook emphasized the company’s belief in the future of American innovation. “We’re proud to build on our long-standing U.S. investments with this $500 billion commitment to the country’s future,” Cook said. “From expanding our Advanced Manufacturing Fund to developing advanced technologies in Texas, we’re excited to support American manufacturing.”

The announcement comes shortly after President Donald Trump mentioned Apple’s plans, noting that the company would invest “hundreds of billions of dollars” in the U.S. during a meeting at the White House.

“Yesterday, I had Tim Cook in the office. He’s investing hundreds of billions of dollars,” Trump said. “Now he has to do it.”