Apple announces chip deal with Broadcom worth more than $30 billion

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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 US via the deal as part of the company’s American Manufacturing Program (AMP). The tie-up will also see Broadcom modernize its Fort Collins, Colo.-based manufacturing facilities via a $1.5 billion investment.

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https://finance.yahoo.com/technology/article/apple-announces-chip-deal-with-broadcom-worth-more-than-30-billion-100000097.html

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