Apple , opens new tab plans to spend more than $30 ​billion under a multi-year chip supply deal with Broadcom, bolstering ‌its U.S. sourcing as President Donald Trump’s administration pushes to expand domestic chip manufacturing.
Broadcom shares rose more than 4%, while Apple shares were ​down marginally.
Apple said on Wednesday the deal, which ​was struck earlier this week and runs through 2031, ⁠covers FBAR filters – or radio-frequency chips used for ​wireless connectivity in its devices – that it had been ​developing with Broadcom since at least 2023.
Broadcom will invest $1.5 billion to expand its Fort Collins, Colorado, factory under the deal, which Apple ​said would result in the production of at ​least 15 billion chips and support its work with the Trump ‌administration ⁠to source more components domestically.
“The cutting-edge components built in Fort Collins are essential to delivering the incredible performance and connectivity our customers expect, and we’re proud to deepen our ​investments in ​U.S.-based suppliers ⁠that share our commitment to excellence and innovation,” Apple CEO Tim Cook said in ​a statement.
“We’re grateful to the president and his ​administration ⁠for supporting important projects like this.”
In August 2025, Apple raised its U.S. investment commitment to $600 billion over four ⁠years, adding $100 billion ​to a previously announced spending ​plan.

Israeli Prime Minister Benjamin Netanyahu said in a CNN interview on Tuesday that despite occasional disagreements with US President Donald Trump on Iran, they see “eye to eye” on the big things related to handling Tehran.

Netanyahu said it was too early to say what would happen after Washington and Tehran signed an interim peace deal.

“The President believes that he can stop Iran’s nuclear programme,” Netanyahu told CNN, but added that he has his doubts.

“On the big things we see eye to eye, and occasionally we don’t, but we’re true allies,” he said.

Mayor Zohran Kwame Mamdani on Tuesday officially launched the Summer Youth Employment Program (SYEP), as more than 100,000 young New Yorkers prepare to begin paid jobs across the city’s five boroughs.

The six-week program, running from July through August, places participants in thousands of workplaces, including community organizations, small businesses, hospitals, cultural institutions and government agencies. The initiative gives young people valuable work experience while helping them develop professional skills and earn an income.

“For so many young New Yorkers, a summer job is more than just a way to pass the time—it is a step toward their future,” Mayor Mamdani said. “For years, SYEP has helped thousands of young people launch their careers, develop professional skills and give back to their communities while earning a paycheck. Congratulations to this year’s participants. I hope you not only learn new skills at work but also discover more about yourselves this summer.”

Deputy Mayor for Health and Human Services Dr. Helen Arteaga said the program provides young people with essential workplace experience while promoting long-term economic success.

“The road to professional and personal success is paved by programs like SYEP,” Arteaga said. “Beyond workplace experience, the program also offers education in financial literacy and creates opportunities for young people in high-risk communities to build stable and successful futures.”

Marking its 63rd year, SYEP remains the nation’s largest youth employment program. NYC Department of Youth and Community Development (DYCD) Commissioner Sandra Escamilla-Davies said the initiative continues to open career pathways by connecting participants with employers, mentors and meaningful work experiences.

“SYEP helps young people explore their interests, build professional skills and prepare for the future while strengthening communities across New York City,” Escamilla-Davies said. “Together with programs such as Summer Rising, Saturday Night Lights and Summer Night Lights, it offers safe and engaging opportunities that continue to benefit participants long after the summer ends.”

Earlier this year, Mayor Mamdani released a video encouraging young New Yorkers to apply for the program, resulting in a record number of applications.

The program is designed to support young people who often face barriers to employment, including residents of NYCHA housing, homeless youth, young people with disabilities, those involved with the justice system, youth in foster care and individuals at high risk of gun violence.

Studies have found that participation in SYEP improves school attendance, builds workplace skills and reduces crime and incarceration. A 2021 study found that participants were 17 percent less likely to be arrested and 23 percent less likely to face felony arrests. Research also shows that participants are significantly less likely to be incarcerated in New York State more than five years after completing the program.

As part of its partnership with the city, Lyft will provide 1,200 free two-month Citi Bike memberships to SYEP participants, helping them commute to work and travel across the city. The company will also host interns on its Social Impact team, offering hands-on experience and opportunities to develop leadership and communication skills.
“We’re proud to continue partnering with the NYC Department of Youth and Community Development because access to transportation is access to opportunity,” said Inbar Kishoni, Senior Manager of Community & Equity Programs at Lyft Urban Solutions. “Since 2022, Lyft has provided free Citi Bike memberships and practical work experience to help young New Yorkers build skills and confidence. When young people move, cities move with them.”