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MP Materials stock rips 20% higher after $500 million Apple deal for rare earth magnets

People look at iPhones at the Apple Fifth Avenue store in New York City on May 23, 2025. Apple and miner MP Materials announced a $500 million deal Tuesday for rare earth magnets and the development of a recycling facility that will reinforce the iPhone maker's U.S. supply chain. MP Materials stock climbed 20%. Shares of Apple were marginally higher. As part of the agreement, Apple will buy rare earth magnets created at the company's facility in Fort Worth, Texas. Both companies will combine

Apple commits $500M to US-based rare-earth recycling firm MP Materials

Apple is investing $500 million in MP Materials, the only fully integrated rare-earth mining company currently operating in the United States, as part of a broader effort to strengthen the domestic rare-earth supply chain. The tech giant announced on Tuesday that with this deal, it’s committed to buying American-made rare-earth magnets developed at MP Materials’ flagship facility in Fort Worth, Texas. The factory will develop a series of neodymium magnet manufacturing lines specifically designe

MP Materials stock rips 22% higher after $500 million Apple deal for rare earth magnets

People look at iPhones at the Apple Fifth Avenue store in New York City on May 23, 2025. Apple and miner MP Materials announced a $500 million deal Tuesday for rare earth magnets and the development of a recycling facility that will reinforce the iPhone maker's U.S. supply chain. MP Materials stock climbed 22%. Shares of Apple were marginally higher. As part of the agreement, Apple will buy rare earth magnets created at the company's facility in Fort Worth, Texas. Both companies will combine

MP Materials stock rips 24% higher after $500 million Apple deal for rare earth magnets

People look at iPhones at the Apple Fifth Avenue store in New York City on May 23, 2025. Apple and miner MP Materials announced a $500 million deal Tuesday for rare earth magnets and the development of a recycling facility that will reinforce the iPhone maker's U.S. supply chain. MP Materials stock climbed 24%. Shares of Apple were marginally higher. As part of the agreement, Apple will buy rare earth magnets created at the company's facility in Fort Worth, Texas. Both companies will combine

Apple commits $500 million over several years to buy US-made rare earth magnets

Apple just announced a commitment of $500 million over several years to buy rare earth magnets from the US-based company MP Materials. These rare earth magnets are used in a number of products, including iPhones, MacBooks and the Apple Pencil stylus. The American-made magnets will be shipped throughout the world, to help "meet increasing global demand for the material." MP Materials is the only fully integrated rare earth producer in the country. The two companies have also pledged to work toge

MP Materials stock rips 23% higher after $500 million Apple deal for rare earth magnets

People look at iPhones at the Apple Fifth Avenue store in New York City on May 23, 2025. Apple and miner MP Materials announced a $500 million deal Tuesday for rare earth magnets and the development of a recycling facility that will reinforce the iPhone maker's U.S. supply chain. MP Materials stock climbed 23%. Shares of Apple were marginally higher. As part of the agreement, Apple will buy rare earth magnets created at the company's facility in Fort Worth, Texas. Both companies will combine

Apple commits $500M to U.S.-based rare earth recycling firm MP Materials

Apple is investing $500 million in MP Materials, the only fully integrated rare earth mining company currently operating in the United States, as part of a broader effort to strengthen the domestic rare earth supply chain. The tech giant announced on Tuesday that with this deal, it’s committed to buying American-made rare earth magnets developed at MP Materials’ flagship facility in Fort Worth, Texas. The factory will develop a series of neodymium magnet manufacturing lines specifically designe

Apple makes $500 million deal with miner MP Materials for rare earths magnets

People look at iPhones at the Apple Fifth Avenue store in New York City on May 23, 2025. Apple and miner MP Materials announced a $500 million deal Tuesday for rare earths magnets and the development of a recycling facility that will reinforce the iPhone maker's U.S. supply chain. MP Materials stock climbed 10%. Shares of Apple were marginally higher. As part of the agreement, Apple will buy rare earth magnets created at the company's facility in Fort Worth, Texas. Both companies will combine

Apple cuts a deal for recycling rare earth magnets in the US

is a news writer who covers the streaming wars, consumer tech, crypto, social media, and much more. Previously, she was a writer and editor at MUO. Apple has announced a $500 million investment in MP Materials, a rare earth mining company based in the US. With the deal, the two companies will partner on the development of a rare earth magnet recycling line in Mountain Pass, California, allowing Apple to use reprocessed electronics and scrap material to build its products. Apple has worked with

Apple announces $500 million US investment focused on rare earth magnets

Earlier this year, Apple pledged a $500 billion investment in the United States over the next four years. Now, the company is further expanding that pledge with a $500 million plan to “launch an all-new recycling facility for processing recycled rare earth elements.” With this investment, Apple will work with MP Materials and commit to buying American-made rare earth magnets developed in Fort Worth, Texas. The two companies will build out MP Materials’ “state-of-the-art Texas factory” with a “s

Everwild has reportedly been cancelled amid Xbox layoffs

In today's gaming world, a decade of development can sometimes amount to nothing. Parent company Microsoft has reportedly cancelled Rare's long-in-development project Everwild. The news comes amid broader layoffs across Microsoft's Xbox division. Rare employees will likely be part of the Xbox layoffs, according to Video Games Chronicle. VGC and Bloomberg's Jason Schreier were the first to report the game's cancellation. (Schreier added that an MMORPG project from Zenimax, codenamed "Blackbird,"

Trump Goes Haywire on AI Regulation After China Agrees to Major Trade Deal

American president Donald Trump and Chinese president Xi Jinping have finally resolved a months-long trade dispute revolving around the rare earth metals vital to developing artificial intelligence. It's a resolution that makes it all the more bizarre that the US President is opening the floodgates for an AI arms race with China. Following Trump's baffling "Liberation Day" tariffs back in April, Chinese lawmakers moved to cut the flow of rare earth metals into the US. China has a near-global mo

Topics: ai arms china race rare

How war-torn Myanmar plays a critical role in China's rare earth dominance

Illustration of the national flag of the People's Republic of China and a mining site. Craig Hastings | Moment | Getty Images Beijing has been stepping up controls on rare earth exports, triggering global shortages and exposing industries' dependence on Chinese supply chains. However, over recent years, China itself has become reliant on rare earth supplies from an unexpected source: the relatively small and war-torn economy of Myanmar. While China is the world's top producer of rare earths, it