Apple locked in one of its most important chip suppliers for years to come.
Broadcom revealed in a securities filing that it has extended its longstanding technology partnership with Apple through 2031. The companies signed new multi-year agreements under which Broadcom will develop and supply custom chips for use in future generations of Apple products.
The deal is valued at over $30 billion, will lead to the production of more than 15 billion U.S.-made chips.
“Apple and Broadcom have a long history together, and this new phase of our partnership further accelerates our commitment to American manufacturing and innovation,” said Tim Cook, Apple’s CEO, in a statement.
