Apple, MP Materials
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MP Materials shares remain in focus after soaring 20% yesterday on news that Apple plans to invest $500 million in the rare earths firm, news that came just days after the Department of Defense took a stake in the company.
The moves by Apple and the Pentagon are part of a broader U.S. push to nearshore rare earth supply chains. Earlier this year, President Trump proposed annexing Greenland, an autonomous Danish territory estimated to contain $4.4 trillion worth of rare earth reserves. Vice President JD Vance made a surprise visit in support of the plan.
However, it’s not just the government rushing to ensure rare earth supply. Apple (NASDAQ: AAPL) has one-upped the Pentagon by announcing a $500 million agreement with MP Materials to secure recycled rare earth magnets.
2don MSN
MP Materials Corp., a rare earth materials company, is seeing its stock price rise on news of a major commitment from tech giant Apple.
MP Materials (MP) has made significant announcements recently, including the completion of a follow-on equity offering of nearly $650 million and new high-profile partnerships with Apple and the Department of Defense.
MP Materials, which has the only operational rare earths mine in the U.S., has drawn interest as a challenger to China's dominance from investors ranging from the Pentagon to tech giant Apple in recent days.
MP Materials is America’s only fully integrated rare earth producer with capabilities ranging from mining to end products. Learn more about MP stock here.