Apple Invests $500 Million in U.S. Rare-Earth Supply Chain
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EXCLUSIVE: Apple is expected to announce a $500 million commitment to MP Materials — the only rare earth mine currently operating in the United States, according to multiple sources familiar with the deal.
Shares of USA Rare Earth stock are down 7.1% through 1:55 p.m. ET Wednesday, and the reason is simple: USA Rare Earth is not MP Materials. Not even close.
Apple is investing $500 million with MP Materials to design and manufacture recycled rare earth magnets in the US, specifically for Apple devices.