Japanese multinational investment holding company SoftBank Group Corp. has announced its intention to invest US$100 billion (A$157 billion) in the United States over the next four years.
Artificial intelligence (AI) and related technologies will be the focus of this investment, which aims to create 100,000 jobs.
SoftBank's CEO, Masayoshi Son, announced alongside U.S. President-elect Donald Trump at Mar-a-Lago. The investment is expected to boost the U.S. economy and support emerging technologies.
"Today, I am thrilled to announce that SoftBank will be investing $100 billion America, creating 100,000 American jobs at a minimum," Trump said.
The investment "will help insure that artificial intelligence, emerging technologies and other industries of tomorrow are built, created right here in the U.S.A.," Trump said.
"I"m very, very excited," Son said. "I would really like to celebrate the great victory of President Trump. And my confidence level to the economy of the United States has tremendously increased with his victory."
Founded in 1981 by Masayoshi Son, SoftBank has a long history of investing in technology and innovation. The company's Vision Fund, the world's largest technology-focused venture capital fund, backs numerous companies in sectors such as AI, robotics, and e-commerce. SoftBank's portfolio includes major investments in Alibaba, Arm Holdings, and WeWork.
The $100 billion investment will be funded through various sources controlled by SoftBank, including its Vision Fund, capital projects, and chipmaker Arm Holdings. The funding will be deployed before the end of Trump's term, with the goal of fostering innovation and job creation in the U.S1. This move is seen as a significant boost to the U.S. economy and a demonstration of confidence in America's future.
As of the latest data, SoftBank's stock price is ¥6,084 (A$61.95) per share, and the company's market cap stands at approximately ¥6.76 trillion. The company has recovered its stock price after a decline between 2021 and 2023, gaining nearly 50% year-to-date. SoftBank's commitment to investing in AI and technology reflects its belief in these sectors' potential to drive future growth and innovation.