Apple Invests $1 Billion In Softbank Vision Fund

SoftBank said when it announced the fund that it will contribute $25 billion of its own cash over the next five years.

Apple (AAPL) has confirmed a $1 billion investment in Softbank's technology fund, the Wall Street Journal reported Wednesday. "We've worked closely with SoftBank for many years and we believe their new fund will speed the development of technologies which may be strategically important to Apple".

SoftBank Chief Executive Officer Masayoshi Son told President-elect Donald Trump in December that about half, or $50 billion, of the fund would be invested in the US, pledging to create 50,000 new jobs in the country.




The Wall Street Journal reported December 12 that Apple and the sovereign-wealth fund of Abu Dhabi have also discussed investing.

Son later said the $50 billion investment would come from the previously announced $100 billion fund. The money will be invested in emerging technologies like artificial intelligence, deep learning, robotics, and connected devices.

SoftBank's fund aims to raise as much as $100 billion for the SoftBank Vision Fund, which will invest in technology companies around the globe. In statements to TechCrunch, both companies declined to comment on their potential interest in the fund. Further, it is also reportedly engaged in talks with Saudi Arabia's Public Investment Fund (PIF) for seeking an investment of upto $45 billion.

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