Trump and SoftBank CEO to Unveil $100 Billion Investment in U.S.
SUMMARY
SoftBank CEO Masayoshi Son will announce a $100 billion U.S. investment focused on artificial intelligence (AI) and infrastructure during a joint appearance with President-elect Donald Trump at Mar-a-Lago. The initiative aims to create 100,000 jobs by the end of Trump’s term in 2029. This mirrors a 2016 pledge by Son to invest $50 billion and create 50,000 jobs under Trump’s first term, though it remains unclear if the job goal was met. The funding may come from SoftBank’s Vision Fund, chipmaker Arm Holdings, or other assets, as the company reported $29 billion in cash as of September 30. Son, a staunch AI advocate, recently acquired stakes in OpenAI and Graphcore to bolster SoftBank’s position in the sector. For Trump, the announcement supports his push for large-scale investments and economic revitalization, though previous high-profile projects, like Foxconn’s Wisconsin factory, failed to meet expectations. He will address the media at 11 a.m. EST.
