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Softbank CEO Masayoshi Son will announce a $100 billion investment in the U.S. over the next four years during a Monday visit to President-elect Donald Trump’s residence Mar-a-Lago in Palm Beach, Florida, sources familiar with the matter told CNBC’s Sara Eisen.
The billionaire investor and founder of the Japanese tech-investing firm will also promise in the joint announcement with Trump to create 100,000 jobs focused on artificial intelligence and related infrastructure, the sources said. The money will be deployed before the end of Trump’s term.
The funding could come from various sources controlled by Softbank, including the Vision Fund, capital projects or chipmaker Arm Holdings, where the firm is majority owner. Some of the money will not necessarily be newly raised, but could include some funding already announced such as Softbank’s recent $1.5 billion investment in OpenAI, the tech firm behind chatbot ChatGPT.
Softbank’s Son and Trump made a similar announcement in 2016 after Trump was elected president for the first time, with the Japanese firm agreeing to invest $50 billion in the U.S. with the aim to create 50,000 jobs.