Apple is spending $850 million to build a giant solar farm

Apple CEO Tim Cook just announced that the company is building a gigantic solar farm near Monterey, south of San Francisco.

The facility will cover 1,300 acres and Cook said that it would be more than enough to power its new campus in Cupertino, which is being built right now. He said it would save the company money on energy costs in the long run.

He also joked that he realized he was talking at a financial conference, but he believes that Apple has to continue to help society, as that is the company's highest goal. "We're thrilled to continue on a course of doing things that make the world better than we found it," he told investors. He also said, "We know at Apple that climate change is real.... The time for change is now."

We're at the event, and live-blogging his comments right here.