Apple Inc (AAPL.O) plans to create a $1 billion fund to invest in U.S. companies that perform advanced manufacturing, Chief Executive Officer Tim Cook said on Wednesday, the iPhone maker’s latest effort to show how it is creating U.S. jobs.
The Cupertino, California company will announce the fund’s first investment later in May, Cook said during an interview on CNBC.
Cook also said Apple plans to fund programs that could include teaching people how to write computer code to create apps, and will release more details about the effort this summer.
