(Bloomberg) -- Prime Minister Pedro Sanchez said he’s expecting Apple Inc. to ramp up investments in Spain after meeting with CEO Tim Cook at the company’s headquarters on Friday.
Wrapping up a four-day tour of the U.S. on the West Coast, Sanchez said that Apple will be particularly interested in developing artificial intelligence and television production in Spain.
“We expect to have an increased investment of Apple in Spain in the coming years,” Sanchez said in an interview with Bloomberg Television. “We have this huge bet in converting Spain into a European audiovisual hub,” he added, highlighting the potential for Apple’s TV business.
As well as owning 11 retail stores, Apple says it has spent about 1.5 billion euros ($1.8 billion) with suppliers in Spain over the past five years, contributing to the creation of more than 70,000 jobs directly and indirectly. Last year, Apple paid about $50 million to acquire the Barcelona-based artificial intelligence company Vilynx Inc., which had developed systems for understanding video images.
©2021 Bloomberg L.P.
Advertisement