Donald Trump hails $100 billion SoftBank investment in US—AI, jobs, and growth on the horizon

US President-elect Donald Trump, joined by SoftBank Group CEO Masayoshi Son, announced on Monday that SoftBank would invest $100 billion in the United States over the next four years. This investment is projected to create 100,000 jobs, focusing on artificial intelligence (AI) and related infrastructure, and is seen as a significant boost to the US economy.

At the announcement event held at Trump’s Mar-a-Lago resort in Palm Beach, Florida, Trump praised Son as a “visionary business leader” and highlighted the investment as a testament to global confidence in America’s economic future. Playfully urging Son to double the pledge to $200 billion, Trump described the commitment as part of his broader strategy to drive economic growth during his second term, which begins on January 20.

Son responded with a chuckle, noting he would try.

Echoes of 2016 investment pledge

This isn’t the first major commitment from SoftBank under Son’s leadership. In 2016, shortly after Trump’s initial election, SoftBank pledged $50 billion and 50,000 jobs.

SoftBank’s investment strategy

SoftBank’s financial plans for the investment are yet to be detailed. The funds may be sourced from its Vision Fund, capital projects, or its chipmaker Arm Holdings.

Masayoshi Son, a vocal advocate of AI’s potential, has reiterated his belief in the era of artificial superintelligence, stating in October that achieving it would require hundreds of billions in funding. He has strategically positioned SoftBank in the AI sector, including investment in OpenAI and the acquisition of chip startup Graphcore.

A history of big promises

Trump’s second-term economic strategy includes initiatives like fast-track permitting for companies investing over $1 billion. The $100 billion pledge aligns with its renewed focus on AI, as Son seeks to capitalize on the sector’s growth.

The new term for Trump begins on January 20, with the announcement setting the stage for his administration’s economic priorities.

(With Reuters inputs)