Apple CEO Tim Cook announced a $500 billion investment in the U.S. over the next four years and plans to open a major facility in the Houston area.

Apple said Monday that it planned to spend $500 billion in the United States over the next four years, hire 20,000 people and open a new factory in Texas.

The announcement comes as the tech giant is slated to spend more than $500 billion in the United States over the next four years and bolster "Apple Intelligence," an in-house artificial intelligence system.