Apple said on Monday it would spend $500 billion in U.S. investments in the next four years that will include a giant factory in Texas for artificial intelligence servers and add about 20,000 research and development jobs across the country in that time.

KEY TAKEAWAYS Apple announced plans to spend more than $500 billion in the U.S. over the next four years on a swath of investments, including hiring 20,000 new workers to make artificial intelligence servers in a new Texas-based factory.

Apple said Monday that it is building a factory in Texas to manufacture servers for its data centers to power Apple Intelligence applications. Apple stock was up modestly on the news. In a press release detailing its investments in the U.