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The U.S. Department of Defense is investing $400 million in MP Materials, one of America’s few rare earth miners, in a move to strengthen the domestic supply chain for rare earth elements essential for technologies like artificial intelligence. This investment, announced last Thursday, caused MP Materials’ stock to surge by 50%.
Additionally, Apple Inc. has committed $500 million to MP Materials to secure its supply of rare earth magnets, signaling a broader industry push to bolster U.S. manufacturing. This investment has pushed MP Materials’ shares up approximately 26%, making it a notable stock with a total increase of 100% since last week.
These actions come as part of a strategy to combat the effects of China’s low-cost supply of rare earths, which has hindered U.S. competition in these critical materials.
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