Apple and Broadcom have finalised a multiyear supply and manufacturing agreement valued at more than $30bn, the largest single commitment under the iPhone maker’s American Manufacturing Program. The deal, disclosed on Wednesday, will yield over 15 billion domestically produced chips and includes a $1.5bn investment to expand Broadcom’s Fort Collins, Colorado facility. Broadcom shares rose 4.8% on the New York session, their sharpest single-day gain since mid-May, while Apple’s stock was little changed.

Viewed from Washington, the pact is the latest evidence of a supply-chain realignment driven by trade friction and tariff threats. President Donald Trump’s administration has pressed Apple to reduce its reliance on overseas manufacturing, principally in China, and the company’s $600bn four-year US investment pledge—unveiled alongside Trump in the Oval Office last year—was a direct response. A White House official described the Broadcom deal as “another big win for America” and a sign that the administration’s economic programme is delivering results.

The components to be built in Fort Collins are advanced radio-frequency chips for wireless connectivity, essential to the performance of Apple’s devices. Broadcom has long supplied Apple with wireless chips, though the Cupertino company has moved to in-house designs for some of those functions over the past year. Broadcom continues to provide other communications components and is developing chip technology to support Apple’s first dedicated artificial-intelligence server, expected next year. Apple separately plans to manufacture AI servers at a new facility in Houston, Texas, drawing on local contractors and a workforce training partnership with Houston Community College.

Tim Cook, who will step down as chief executive on 1 September to become executive chairman, thanked the president and his administration for backing the project. John Ternus, Apple’s long-time hardware chief, will succeed Cook as CEO. The leadership transition, and the extent to which Ternus maintains Cook’s direct engagement with the White House, will be the next milestone for investors tracking the durability of Apple’s domestic manufacturing pivot.