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SoftBank CEO Announces $100 Billion Investment in US During Trump Visit
12/16/2024
Economy News - Follow-up
SoftBank Group CEO Masayoshi Son is set to announce a $100 billion investment in the U.S. over the next four years during a visit Monday to President-elect Donald Trump's Mar-a-Lago residence in Palm Beach, Florida, sources told CNBC.
The billionaire investor and founder of a Japanese technology investment firm will also pledge in the joint announcement with Trump to create 100,000 jobs focused on artificial intelligence and related infrastructure, the sources said. The money will be allocated before the end of Trump’s term.
The funding could come from multiple sources controlled by SoftBank, including the Vision Fund, venture capital or chipmaker Arm Holdings, which the company owns a majority stake in. Some of the money may not be new and could include previously announced funding, such as SoftBank’s recent $1.5 billion investment in OpenAI, the company behind ChatGPT.
SoftBank and Sun made a similar announcement in 2016 after Trump was first elected president, with the Japanese company agreeing to invest $50 billion in the United States with the goal of creating 50,000 jobs.
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