Apple has held talks with SoftBank about investing up to $1 billion in the Japanese telecommunication giant's global technology fund, according to The Wall Street Journal. A deal has not been finalized, while the current status of the talks could not be determined, according to the report.
The so-called "SoftBank Vision Fund," expected to launch next year, will be valued at up to $100 billion, which will be invested into emerging technologies like artificial intelligence and connected internet devices. SoftBank itself will invest at least $25 billion in the fund, while the Saudi Arabian government will pledge up to $45 billion.
Apple's own investment would allow it to gain insight on emerging technologies, according to the report.
Such a move also would reflect a shift in Apple’s investment strategy, which until recently focused on small stakes in young technology companies. Earlier this year, Apple invested $1 billion in Didi Chuxing Technology Co., China’s homegrown ride-sharing competitor to Uber Technologies Inc. SoftBank is also an investor in Didi.
Last week, SoftBank CEO Masayoshi Son said he would invest $50 billion of the fund in the United States and create 50,000 new jobs in the country following a meeting with President-elect Donald Trump. SoftBank is the parent company of U.S. carrier Sprint, which employs about 30,000 people.
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Top Rated Comments
He just seems to be hanging off the coattails of the work of other people.
Thank you President Obama for bringing jobs and investment into America!
Let's hope Trump doesn't ruin this great economy. We need to protect America from his dangerous economic policies.
Apart from the fact this has been in the pipeline for months.