"We're announcing it today. So you're the first person I'm telling," Cook told "Mad Money" host Jim Cramer on Wednesday. "Well, not the first person because we've talked to a company that we're going to invest in already," he said, adding that Apple will announce the first investment later in May.
The fund comes as President Donald Trump has made bringing back manufacturing jobs a big part of his agenda, and it fits into Apple's larger effort to create jobs across its spectrum, from its own employees to app developers to its suppliers.
As advanced manufacturing jobs are in high demand in the U.S., the sector was already high on Apple's list of priorities, and Cook hopes the investment will spur even more job creation.
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