CUPERTINO, CA – Apple set up a $1 billion fund directed toward bringing advanced manufacturing jobs to the US, said Apple CEO Tim Cook, according to published reports.

He called the $1 billion fund an "initial" investment, and said he’d report more about the fund later in May.

Cook said Apple has created two million direct and indirect jobs in the US and plans to hire thousands more in the future.

Apple reportedly also plans to invest in programs that will train emerging app developers, with more information about this plan to emerge later this summer.