A $100 billion investment initiative aimed at promoting artificial intelligence and associated infrastructure projects will be announced by President-elect Donald Trump and Masayoshi Son, the CEO of the Japanese tech giant SoftBank.
Over the course of four years, the initiative, which was first reported by CNBC, aims to create 100,000 employment.
After Trump was elected president for the first time in 2016, he and Son launched a similar plan in which the Japanese company committed to investing $50 billion in the United States with the goal of creating 50,000 jobs. Due to the failure of many of SoftBank’s numerous startup investments in the United States and other countries, it is unclear if that initiative was entirely successful. According to a 2019 Forbes analysis, it was challenging to find concrete evidence of the final impact. However, according to Axios, it mostly satisfied the requirements, at least initially.
There are concerns about how Son and his company would raise the promised money because SoftBank is a considerably smaller corporation now than it was when Trump first took office almost ten years ago, and according to Bloomberg News, it only has $25 billion in cash on hand.
A request for comment was not immediately answered by a SoftBank spokesman.
Son is one of many IT giants who have announced investments since Trump won the election. Earlier this month, OpenAI CEO Sam Altman and the AI firm Perplexity announced $1 million contributions to Trump’s inaugural fund, as did Amazon and Facebook parent company Meta.
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