09:56 AM EDT, 07/08/2026 (MT Newswires) -- Apple ( AAPL ) said Wednesday that Broadcom ( AVGO ) will produce chips to be used in the iPhone maker' products in a deal likely worth more than $30 billion.

Earlier in the week, Broadcom ( AVGO ) announced an expanded collaboration to develop custom microchips for Apple ( AAPL ), but didn't disclose the financial terms.

Broadcom ( AVGO ) will manufacture more than 15 billion chips in the US, Apple ( AAPL ) said. The deal will allow Broadcom ( AVGO ) to invest $1.5 billion to expand its manufacturing facilities in Fort Collins, Colorado.

"Apple ( AAPL ) and Broadcom ( AVGO ) have a long history together, and this new phase of our partnership further accelerates our commitment to American manufacturing and innovation," Apple ( AAPL ) Chief Executive Tim Cook said in a statement.

Shares of Apple ( AAPL ) edged down 0.4% in Wednesday trade, while Broadcom ( AVGO ) rose 1.9%.

"With Apple's ( AAPL ) newest commitment, we're pleased to expand our manufacturing footprint in Fort Collins," Broadcom ( AVGO ) CEO Hock Tan said.

In 2025, Apple ( AAPL ) boosted its US-centric capital expenditure plan to $600 billion over a four-year period.

Last month, President Donald Trump announced that Apple ( AAPL ) had agreed to work with Intel (INTC) to design and build chips in the US.

In April, Broadcom ( AVGO ) announced its expanded collaboration with Meta Platforms (META) to support the Facebook parent's artificial intelligence compute infrastructure. The same month, the chipmaker clinched a deal to produce AI chips for Alphabet's (GOOG, GOOGL) Google and expanded its collaboration with Amazon-backed (AMZN) AI startup Anthropic.