Apple Invests $500 Million in Rare Earth Magnet Maker
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Apple is making a bold bet on domestic production with a $500 million investment in MP Materials, a Nevada-based rare earth magnet manufacturer. The deal marks a major push to bring the production of key electronic components — namely neodymium magnets — back to U.S. soil amid rising political pressure and global supply chain challenges.
These magnets, vital to devices like iPhones, electric vehicles, and other advanced tech, will now be produced at a new factory in Texas. Apple says it will also support extensive workforce training at the site. CEO Tim Cook emphasized that the partnership will strengthen America's access to rare earths while enhancing sustainability through recycling efforts using consumer and industrial waste.
MP Materials' stock surged more than 25% on the news, signaling investor confidence in Apple’s strategy to onshore critical tech infrastructure. The announcement also sends a clear message to the White House: Apple is investing in America — not just in products, but in its industrial future.
