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Recap: Corning is a longtime partner of Apple's. As the story goes, Corning developed a formula for hardened glass way back in the 60s but never found a market for it. In the mid-2000s, Apple CEO Steve Jobs got in contact with the company with regards to producing cover glass for the iPhone. It was a hit, and the two have been working together on the iPhone, Apple Watch and iPad ever since.
The money will be used to expand Corning's manufacturing capacity in the US and help bolster research and development efforts.
Corning has received $450 million from Apple's Advanced Manufacturing Fund over the past four years. The infusions of cash have helped the company develop new products like Ceramic Shield, which was first introduced with the iPhone 12 family.
Ceramic Shield is made with nano-ceramic crystals that are harder than most metals. By controlling the types of crystals used and the degree of crystallinity, Corning was able to craft a formula that maximizes toughness while remaining optically clear.
According to Apple, Ceramic Shield is the toughest glass in any smartphone, delivering four times better drop performance compared to the previous-generation iPhone.