The Clap
Apple (NASDAQ: AAPL) is set to spend $450 million with several US companies to allow satellite texting.
The Deets
The company is looking to spend the money on equipment, from satellites to antennas. The company will not acquire a minority stake in any companies it invests with.
The move comes following Apple’s introduction of the new Emergency SOS feature introduced.
So What
The investments show Apple’s increased spending on US suppliers, despite the bigger part of manufacturing being outside of the US.
Now What
Apple will finance the deals through the Advanced Manufacturing Fund, a fund dedicated to support US suppliers.