Cupertino is one of many cities that claim to be the “heart” of Silicon Valley, as many semi-conductor and computer companies were founded here and in the surrounding areas. The worldwide headquarters for Apple Inc. is located here in a modern complex circled by the Infinite Loop. Apple has announced that it plans to build a new 150-acre (610,000 m2) second campus between Interstate 280, N Wolfe Rd, E Homestead Rd and along Tantau Ave one mile east of the old campus. The nine properties (50-acre (0.2 km2) south of Pruneridge Avenue were bought in 2006, the property (100-acre (0.4 km2) north of it in 2010 (from Hewlett-Packard).
On June 7, 2011, Steve Jobs gave a presentation to Cupertino City Council, detailing the architectural design of the new building and its environs. The campus is planned to house up to 13,000 employees in one central four-storied circular building surrounded by extensive landscaping, with parking mainly underground and the rest centralized in a parking structure.
Other companies headquartered in Cupertino include Trend Micro, Cloud.com, Lab126, Packeteer, Chordiant, and Seagate Technology. Over 60 high-tech companies have offices there, including IBM, Olivetti and Oracle. Most of these high-tech companies are located on De Anza Boulevard, Cali Mill Plaza, and Bubb Road.