Apple will be spending $2 billion over the course of 10 years to convert GT Advanced’s failed sapphire plant in Mesa, Arizona into a datacenter, according to an official announcement. The company claims that the project is “one of the largest” investments it has ever made, and should add over 600 engineering and construction jobs […]
GT Advanced has confirmed its split with Apple via a press release, offering further details on the terms. “GT will be released from all exclusivity obligations under its various agreements with Apple,” the statement explains. “GT will retain ownership of all production, ancillary and inventory assets located in Mesa [Arizona] and Apple is provided with […]
Sapphire supplier GT Advanced has filed for Chapter 11 bankruptcy protection, according to a Monday press release. Trading of the company’s stock was halted in advance of the announcement, and once resumed caused shares to drop over 90 percent of their value. GT says it will continue to operate while under Chapter 11, but that […]
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