Apple announces chip deal with Broadcom worth more than $30 billion
Daniel Howley· <a href="https://todaytrendnews7.com/electric-vehicles-are-a-defense-technology/” title=”Electric Vehicles Are a Defense Technology”>Technology Editor
Wed, July 8, 2026 at 3:30 PM GMT+5:30
2 min read
- AAPL
+1.06% - AVGO
+5.11%
Apple (AAPL) on Wednesday announced it has entered into a chip deal valued at more than $30 billion with Broadcom (AVGO).
Under the terms of the deal, Broadcom will design and produce “custom silicon components and cutting-edge wireless connectivity technologies” for Apple products
The news comes after Broadcom filed paperwork with the Securities and Exchange Commission on June 6, indicating it established a multiyear agreement to develop custom chips for Apple through 2031
According to Apple, more than 15 billion chips will be built in the USgram (AMP). The tie-up will also see Broadcom modernize its Fort Collins, Colo.-based manufacturing facilities
(AAPL)
Go deeper with AlphaSpace
313.96+3.30(+1.06%)
As of 3:34:49 PM EDT. Market Open.
AAPLAVGO
“Apple and Broadcom have a long history together, and this new phase of our partnership further accelerates our commitment to American manufacturing and innovation,” Apple CEO Tim Cook said in a statement.
“The cutting-edge components built in Fort Collins are essential to delivering the incredible performance and connectivity our customers expect, and we’re proud to deepen our investments in US-based suppliers that share our commitment to excellence and innovation,” he said
Apple launched its AMP initiative in 2025 as part of the company’s push to increase its manufacturing presence in the US, along with its partners. Other companies that participate in Apple’s AMP effort include Corning (CLW), GlobalFoundries (GFS), and Texas Instruments (TXN)
The Trump administration made reshoring manufacturing and chip development a cornerstone of its industrial and technology policies.
The White House has taken a 10% stake in Intel, and according to the Financial Times, OpenAI (OPAI.PVT) has proposed giving the administration a 5% position in the AI company
Broadcom has been a major beneficiary of the AI trade, with the stock rising more than 35% thanks to its work developing chips for companies such as Google (GOOG, GOOGL)
Apple, meanwhile, has gone through a series of ups and downs related to its positioning in the AI market. More recently, the tech giant debuted an updated version of Siri during its WWDC event in June
Importantly, the company’s iPhone sales have continued to outperform, helping to lift its stock price 47% over the past year
Email Daniel Howley at dhowley@yahoofinance.com. Follow him on X at@DanielHowley
Click here for the latest technology news that will impact the stock market
Read the latest financial and business news from Yahoo Finance
