In a move that is set to create thousands of new jobs and boost the US economy, Japanese technology and telecoms giant SoftBank Group has announced plans to invest over $100 billion in the United States. The announcement was made by SoftBank’s CEO, Masayoshi Son, alongside President-elect Donald Trump at Trump Tower in New York.
According to Son, the investment will be made through SoftBank’s Vision Fund, a massive technology-focused fund that was launched in 2016 with the aim of investing in emerging technologies such as artificial intelligence, robotics, and the Internet of Things (IoT). The fund has already attracted significant investment from major players such as Saudi Arabia’s Public Investment Fund and Abu Dhabi’s Mubadala Development Company.
The investment is expected to create up to 50,000 new jobs in the US, with a focus on the technology and telecoms sectors. SoftBank has already made significant investments in US companies, including a $32 billion acquisition of ARM Holdings, a UK-based chip designer with significant operations in the US.
The announcement is seen as a major vote of confidence in the US economy and a significant boost to Trump’s plans to create new jobs and stimulate economic growth. Son praised Trump’s business-friendly policies and his commitment to creating a favorable environment for investment and job creation.
