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SoftBank CEO to announce $100b investment in US during visit to Trump

By Reuters

Published : Dec. 16, 2024 - 21:37

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FMasayoshi Son, CEO of SoftBank, arrives for the annual Allen and Co. Sun Valley Media and Technology Conference at the Sun Valley Resort in Sun Valley, Idaho, US on July 9. (Reuters-Yonhap) FMasayoshi Son, CEO of SoftBank, arrives for the annual Allen and Co. Sun Valley Media and Technology Conference at the Sun Valley Resort in Sun Valley, Idaho, US on July 9. (Reuters-Yonhap)

SoftBank Group CEO Masayoshi Son will announce a $100 billion investment in the United States over the next four years during a Monday visit to US President-elect Donald Trump's residence, Mar-a-Lago, CNBC reported.

Son will also promise in a joint announcement with Trump to create 100,000 jobs focused on artificial intelligence and related infrastructure, with the money to be deployed before the end of Trump's term, CNBC said, citing sources.

The funding could come from various sources controlled by SoftBank, including the Vision Fund, capital projects or chipmaker Arm Holdings, CNBC said.

A SoftBank Group representative could not be reached for comment when called outside of regular business hours in Tokyo.

Representatives for Trump's transition team could not be immediately reached for comment on the report.

Son has been a strong proponent of the potential for AI and has been pushing to expand SoftBank's exposure to the sector, taking a stake in OpenAI and acquiring chip startup Graphcore.

In October, he reiterated his belief in the coming of artificial super intelligence, saying it would require hundreds of billions of dollars of investment to realize.

Son said at the time he was saving up funds "so I can make the next big move," but did not provide any details.