Trump referred to the tech leaders as the "High IQ Group," acknowledging their influential role in business.
Trump referred to the tech leaders as the "High IQ Group," acknowledging their influential role in business.US President Donald Trump hosted an exclusive dinner for top technology CEOs at the White House on Thursday. The meeting included leaders like Apple CEO Tim Cook, Google and Alphabet CEO Sundar Pichai, and Microsoft CEO Satya Nadella. Discussions focused on advancements in artificial intelligence (AI) and financial investments in the US.
During the high-profile dinner, Trump asked Tim Cook about the company's investment in the US as Apple returns "home in a big way" from "elsewhere" — in an apparent reference to the iPhone maker's operations in India.
Trump asked the Apple CEO: "Tim, how much money will Apple be investing in the United States? I know it's a very large amount. You were elsewhere before, and now you're really coming home in a big way. How much money will you be investing?"
To this, Tim Cook replied that Apple was going to invest around $600 billion in the United States. He also praised the POTUS for "setting the tone" for Apple to grow in the US and for his focus on innovation.
This comes months after Trump told the Apple CEO that he does not want the iPhone maker to build its products in India. He was referring to the tech giant's commitment of a $500 billion investment in the US, announced in February after Trump came to power for his second term.
Apple has been increasing its production in India as it is looking to reduce its dependency on China, which assembles around 90 per cent of the company's flagship smartphone. The company is planning to make around 25 per cent of global iPhones in India in the next few years.
Cook, however, was not the only CEO who was asked the same question. When asked how much Meta will invest in the US, Mark Zuckerberg also said $600 billion. Google CEO Sundar Pichai said: "We are well north of $100 billion. In the next two years, it will be $250 billion in the US."
"That's great, that's great. We're proud of you. Thank you. A lot of jobs, a lot of jobs. Yeah, good," Trump said. When questioned about Microsoft's investment, Satya Nadella replied: "This year, in the United States, we are close to around $75 to $80 billion." "Good, very good. Thank you very much," Trump said.
For Unparalleled coverage of India's Businesses and Economy – Subscribe to Business Today Magazine