Menu
SoftBank gives more detail about $67b US investment

SoftBank gives more detail about $67b US investment

The Japanese company will focus on US startups, Son says

Masayoshi Son, CEO of Japanese telecom firm SoftBank, plans to invest US$50 billion and create 50,000 jobs in the U.S. by pumping money into startups, he said after a meeting with President-elect Donald Trump.

Son gave few details Tuesday after the meeting with Trump, but he said his focus would be on U.S. startup companies. Son came to meet Trump and to celebrate the Republican's election victory.

The $50 billion is half of an already announced $100 billion investment by SoftBank in the global technology industry over the next five years, Son later told the Wall Street Journal. That investment, done in partnership with Saudi Arabia's public investment fund, was announced in October.

SoftBank controls Sprint, but it's unclear if the $50 billion would include new investments in the company. Sprint, which has been struggling to compete in the U.S. mobile market, laid off about 2,500 of 33,000 employees back in January.

SoftBank purchased ARM, the U.K. chipmaker, for about $32 billion earlier this year.


Follow Us

Join the newsletter!

Error: Please check your email address.

Featured

Slideshows

Kiwi channel closes 2017 with After Hours

Kiwi channel closes 2017 with After Hours

The channel in New Zealand came together to celebrate the close of 2017, as the final After Hours played out in front of a bumper Auckland crowd.

Kiwi channel closes 2017 with After Hours
Meet the top performing HP partners in NZ

Meet the top performing HP partners in NZ

HP honoured leading partners across the channel at the Partner Awards 2017 in New Zealand, recognising excellence across the entire print and personal systems portfolio.

Meet the top performing HP partners in NZ
Tech industry comes together as Lexel celebrates turning 30

Tech industry comes together as Lexel celebrates turning 30

Leading figures within the technology industry across New Zealand came together to celebrate 30 years of success for Lexel Systems, at a milestone birthday occasion at St Matthews in the City.​

Tech industry comes together as Lexel celebrates turning 30
Show Comments