KEY TAKEAWAYS Apple announced plans to spend more than $500 billion in the U.S. over the next four years on a swath of investments, including hiring 20,000 new workers to make artificial intelligence servers in a new Texas-based factory.

Apple will grow its Texas presence with a new factory focusing on its Apple Intelligence system, as part of a $500 billion investment over four years, the company announced Monday.

Apple said on Monday it would spend $500 billion in U.S. investments in the next four years that will include a giant factory in Texas for artificial intelligence servers and add about 20,000 research and development jobs across the country in that time.