Apple has committed $500 million to buying recycled rare earth magnets from MP Materials, a mining company with a major manufacturing hub in far north Fort Worth.

We recently published 10 Stocks Exploded Over 100%; One Shockingly Soared 11,000%. MP Materials Corp. (NYSE:MP) is one of the top-performing mid-cap companies of the first half of the year. MP Materials has grown its share price by 166.

MP Materials Corp., a rare earth materials company, is seeing its stock price rise on news of a major commitment from tech giant Apple.

In a decisive action to bolster the U.S. supply chain for rare earth magnets—essential elements for fighter jets, missiles, and electric vehicles—the

However, it’s not just the government rushing to ensure rare earth supply. Apple (NASDAQ: AAPL) has one-upped the Pentagon by announcing a $500 million agreement with MP Materials to secure recycled rare earth magnets.

On Thursday, the United States Department of Defense (DOD) entered a major deal with MP Materials. The DOD agreed to buy $400 million of MP Materials newly created preferred shares stock. The move will make the U.S. military the company’s largest stakeholder. In the hours after the deal, the company’s stock surged more than 50%.

The Cupertino tech giant has inked a $500 million deal with Mountain Pass’ owner and operator MP Materials, the two companies announced on Tuesday, in a move that will help Apple onshore a part of its sprawling supply chain.

MP Materials Corp. (NYSE: MP) ("MP Materials" or the "Company") today announced that it has commenced a $500 million underwritten public offering (the "Offering") of its common stock. All shares of common stock to be sold in the Offering will be offered by the Company.