Advanced Manufacturing Fund


'Advanced Manufacturing Fund' Articles

Apple to Invest $390 Million in Finisar, US Maker of iPhone X TrueDepth Camera Lasers

Apple announced on Wednesday its plans to invest $390 million in Finisar Corp, which supplies components for the vertical-cavity surface-emitting lasers (VCSEL) found in the iPhone X True Depth camera. The investment will be used to build a plant in Texas to make more of the chips, and will be financed by Apple's $1 billion Advanced Manufacturing Fund, which the company created earlier this year to foster innovation and create jobs in the U.S. "VCSELs power some of the most sophisticated technology we've ever developed and we're thrilled to partner with Finisar over the next several years to push the boundaries of VCSEL technology and the applications they enable," said Jeff Williams, Apple's chief operating officer. "Technology is only as good as the people behind it, and Finisar is a company with a long history of putting its employees first and supporting the community it's a part of. We're extremely proud that our involvement will help transform another American community into a manufacturing powerhouse."According to Apple's statement, the award will enable Finisar to exponentially increase its R&D spending and high-volume production of VCSELs, which power some of the iPhone's X flagship features, such Face ID, Animoji and Portrait mode selfies, as well as the proximity-sensing capabilities of AirPods. "We're excited to continue our innovation with Apple of a technology that has tremendous potential," said Jerry S. Rawls, CEO of Finisar. "When you combine our proven ability to consistently manufacture exceptional products with our new state-of-the-art Sherman

Apple Awards Corning First Advanced Manufacturing Fund Investment

Apple today announced that Corning, the makers of Gorilla Glass, will be the first major benefactor of its $1 billion Advanced Manufacturing Fund, which was announced by Apple CEO Tim Cook earlier this month. Corning is a long-time Apple Supplier, and its Gorilla Glass products have been used in the iPhone and the iPad for several years. Corning Incorporated will receive $200 million from Apple's new fund, which aims to foster innovation among American manufacturers and lead to more U.S. jobs. The investment will support Corning's research and development, capital equipment needs and state-of-the-art glass processing, according to Apple's press release. "Corning is a great example of a supplier that has continued to innovate and they are one of Apple's long-standing suppliers," said Jeff Williams, Apple's chief operating officer. "This partnership started 10 years ago with the very first iPhone, and today every customer that buys an iPhone or iPad anywhere in the world touches glass that was developed in America. We're extremely proud of our collaboration over the years and we are investing further with Corning who has such a rich legacy of innovative manufacturing practices."Apple said Corning's 65-year-old Harrodsburg facility in Kentucky has been integral to the 10-year collaboration between the two companies and will be the focus of its investment. "Corning's longstanding relationship with Apple has not only led to significant glass innovations that have enabled new capabilities for consumers, it has also helped create nearly 1,000 American jobs and allowed us