The CEO of Softbank Just Announced He's 'Doubling-Down' on President-elect Donald Trump's Second Term — Here's Why Softbank CEO Masayoshi Son announced a $100 billion investment in the U.S. that will be spent over the next four years on AI initiatives.
By Erin Davis
Key Takeaways
- Masayoshi Son, the CEO of Softbank, announced a $100 billion investment in the U.S., CNBC reported.
- The investment is expected to create 100,000 jobs focused on artificial intelligence and its infrastructure.
The CEO and founder of Japanese telecom and investment group, SoftBank, Masayoshi Son, visited Palm Beach, Florida, on Monday to visit President-elect Donald Trump at the "Winter White House."
There, CNBC first reported, Son announced a $100 billion investment to create at least 100,000 jobs over four years in the U.S. focusing on AI and its related costs.
(Photo by Andrew Harnik/Getty Images)
"My confidence level to the economy of the United States has tremendously increased with his victory," Son said. "President Trump is a double-down president. I'm going to have to double down."
Related: SoftBank CEO Says AI 10x Smarter Than Humans Could Be Here in a Matter of Years
Son is a billionaire investor with a net worth of around $16.7 billion, per Bloomberg. Tokyo-based Softbank has a market capitalization of around $95 billion.
"He's doing this because he feels very optimistic about our country since the election," Trump said, per CNBC. "This historic investment is a monumental demonstration confidence in America's future, and it will help ensure that artificial intelligence, emerging technologies, and other industries of tomorrow are being created and grown right here in the USA."
In 2016, after Trump's first election victory, Son's company invested $50 billion in the U.S. to create 50,000 jobs.
Related: SoftBank Vision Fund Co-CEO Rajeev Misra Steps Down; Alex Clavel Named Sole CEO
