Apple is investing $500 million in MP Materials, a U.S. producer of rare earth magnets, to boost American manufacturing. This partnership will enhance the supply of essential rare earth materials necessary for advanced technology in the U.S. CEO Tim Cook emphasized the importance of reclaimed resources from used electronics. News of the investment caused MP Materials’ stock to rise over 25%. The investment signals Apple’s commitment to U.S. production, responding to pressures from President Trump for domestic manufacturing.
Rare earth materials are essential for making advanced technology, and this partnership will help strengthen the supply of these vital materials here in the United States.
While new supplies of rare earths continue to be mined, Apple's initiative with MP Materials focuses on reclaiming and recycling neodymium magnets specifically for Apple devices from used consumer electronics and post-industrial scrap.
News of the deal sent MP Materials' stock price soaring more than 25% on Tuesday morning, topping a prior price high reached in April 2022.
The gains extend a run that started last week when MP Materials inked a multibillion-dollar deal with the US Department of Defense that guarantees a price floor for two of the most popular rare earth metals that is nearly twice as high as the Chinese market level.
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