SoftBank to Invest $100 Billion in the US

SoftBank Group CEO Masayoshi Son stated his company would invest $100 billion in the US over the next four years. Son made the announcement during the press event with incoming US President Donald Trump.

Appearing in his first press conference since he was elected president on 6 November, Trump stated the investment would create 100,000 jobs focused on AI and related infrastructure. The investment will be spread out across Trump’s four-year term in areas such as data centers, semiconductors, and energy. Son is among a growing number of Big Tech executives who are showing their support for Trump.

Son made a similar pledge of $50 billion in December 2016 that promised the creation of 50,000 jobs ahead of Trump’s first term. Softbank had JPY3.8 trillion ($25 billion) in cash and equivalents on its balance sheet at the end of September, according to Bloomberg. It has benefitted from last year’s initial public offering of Arm Holdings, which it has a 90% stake in.