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.

MP Materials (MP) shares are trading nearly 50% higher today after the Defense Department announced a massive investment in the Las Vegas-based rare earth miner. The Pentagon has agreed to load up on $400 million worth of MP’s preferred stock – positioning itself as the company’s largest shareholder,

In 2025, the U.S. Department of Defense (DoD) agreed to buy $400 million of preferred stock in MP Materials. This investment supports the expansion of its processing capacity and the construction of a second magnet manufacturing facility in the U.S. to supply key components to military weapons systems.

Apple's $500 million investment in MP Materials is making headlines across the U.S. tech and defense sectors. In a bold move to boost American-made rare earth production, Apple is partnering with MP Materials—backed by a $400 million Pentagon deal—to reduce dependence on China.

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%.

MP Materials said on Wednesday it would sell $500 million of its common stock, a day after the U.S. rare earths miner inked a supply deal with Apple .

An Historic Public-Private Partnership The U.S. Defense Dept. announced yesterday it was making a multibillion-dollar investment in MP Materials (NYSE:MP), the sole operator of the rare earth mineral mine in California.

MP Materials, which runs the only American rare earths mine, announced a new $500 million agreement with tech giant Apple on Tuesday to produce more of the powerful magnets used in iPhones as well as other high-tech products like electric vehicles.