In a significant economic announcement, SoftBank Group CEO Masayoshi Son pledged to invest $100 billion in the United States over the next four years, aiming to create 100,000 jobs in the artificial intelligence sector. This commitment was made during a joint appearance with President-elect Donald Trump at Mar-a-Lago, Florida, on December 16, 2024.
Trump hailed the investment as a demonstration of 'monumental confidence in America's future,' suggesting it would bolster the domestic economy and mitigate inflation effects. He encouraged Son to consider increasing the investment to $200 billion, to which Son responded positively.
The new pledge mirrors a previous commitment made by Son in December 2016, where he promised to invest $50 billion and create 50,000 jobs. While the funds were deployed, the actual job creation remains uncertain.
SoftBank's financial strategy to support this new investment remains unclear, especially given that the company reported approximately $29 billion in cash as of September 30. The funding is expected to derive from various sources within SoftBank's portfolio, including its Vision Fund and other capital projects.
Son has been an advocate for the AI sector, emphasizing the need for substantial investments to realize the potential of artificial super-intelligence. He previously indicated plans to accumulate funds for significant future investments.
In related news, Trump announced plans to expedite permitting processes for companies investing $1 billion or more in the U.S., aiming to attract further foreign investments.