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Like the article says, the $578M is just the prepayment. The total amount may be much greater. The facility itself was acquired from First Solar, who sold it at
by IBM 13y ago
Like the article says, the $578M is just the prepayment. The total amount may be much greater. The facility itself was acquired from First Solar, who sold it at a loss, and it seems like Apple will be fronting the capital for the factory's construction. The deal also requires a minimum amount of capacity for Apple and also exclusivity for some unknown amount of time (perhaps the same 5 years), so it's unlikely that they'll be supplying anyone besides Apple. And this is just for one component, Apple likely makes these deals with all their suppliers.