SoftBank CEO Masayoshi Son pledged $100 billion in US investment over the next four years, creating 100,000 jobs in AI and infrastructure. The announcement was made by President-elect Donald Trump, who highlighted this as a sign of confidence in the US economy.
President-elect Donald Trump announced that Japan-based SoftBank will invest $100 billion in the United States over the next four years. Trump, speaking alongside SoftBank CEO Masayoshi Son, said the investment will create 100,000 jobs in artificial intelligence (AI) and related infrastructure, with the money being used before Trump finishes his term. This announcement echoes a similar pledge made in December 2016 at Trump Tower, when Son said he would spend $50 billion and create 50,000 jobs.
While the money was eventually spent, it is unclear if that number of jobs was created. Trump said the latest SoftBank investment pledge is a sign of 'great confidence' in the future of the US. The investment announcement, made at a press conference at Mar-a-Lago club in Palm Beach, Florida, coincides with Trump's promise to boost the US economy and mitigate the impact of inflation on its people during his second term, which begins early next year. SoftBank shares were also reported to have jumped over three percent in trading in Tokyo on the morning following the announcement. However, it is unclear how the Japanese company plans to finance this investment promise, as SoftBank Group reportedly had around $27 billion in cash on hand as of September 30th. 'Fund Vision 2 also has a remaining $3 billion to be used. The capital could also come from chipmaker Arm Holdings,' a source said.-REUTER
INVESTMENT SOFTBANK TECHNOLOGY JOBS ECONOMY
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