Apple’s Advanced Manufacturing Fund isn’t limited to $1 billion

In discussing Apple’s $390 million investment in Finisar, a manufacturer of optical communications components, Apple Chief Operating Officer Jeff Williams told CNBC that the $1 billion allotted for the Advanced Manufacturing Fund is “absolutely not” a final threshold.

“We’re not thinking in terms of a fund limit,” Williams said. We’re thinking about, where are the opportunities across the U.S. to help nurture companies that are making the advanced technology — and the advanced manufacturing that goes with that — that quite frankly is essential to our innovation.”

The Advanced Manufacturing Fund comes from Apple’s U.S. investment pool. Corning, Inc., was the first company to benefit, receiving $200 million. Corning is an American manufacturer of glass, ceramics, and related materials, primarily for industrial and scientific applications. It’s been one of the main suppliers to Apple since working with Steve Jobs in 2007 to develop the iPhone.