President Donald Trump says Apple’s decision to spend $500 billion in the U.S. during the next four years shows “faith in what we are doing.”

The Big Tech giant on Monday said it plans to help bring online a quarter-million-square-foot factory in Texas by 2026 to build artificial intelligence servers and will add about 20,000 research and development jobs across the U.S.

The announcement came after it was reported that Apple Chief Executive Tim Cook met with Trump last week.

“Apple has just announced a record 500 billion dollar investment in the United States of America. The reason, faith in what we are doing, without witch [which], they wouldn’t be investing ten cents. Thank you Tim Cook and Apple!!!” Trump posted in all caps Monday morning on Truth Social.

Many of Apple’s products that are assembled in China could face 10% tariffs imposed by Trump earlier this month, though the iPhone maker previously secured some waivers from China tariffs during the first Trump administration.

Apple said that it plans to spend $500 billion in the United States over the next four years, though that figure includes everything from purchases from U.S. suppliers to U.S. filming of television shows and movies for its Apple TV+ service.

“We are bullish on the future of American innovation, and we’re proud to build on our long-standing U.S. investments with this $500 billion commitment to our country’s future,” Cook said in a statement, Yahoo Finance reported.

“From doubling our Advanced Manufacturing Fund, to building advanced technology in Texas, we’re thrilled to expand our support for American manufacturing. And we’ll keep working with people and companies across this country to help write an extraordinary new chapter in the history of American innovation.”

Apple made a similar announcement about its U.S. spending plans during the first Trump administration, at that time saying it planned $350 billion over five years.

Reuters contributed to this story.

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