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Apple today announced that it has invested $1 billion in Japanese company SoftBank's Vision Fund, confirming rumors suggesting the two had held talks back in December.
The SoftBank Vision Fund, which SoftBank is aiming to launch next year, could be one of the largest tech investment funds in the world. The money will be invested in emerging technologies like artificial intelligence, deep learning, robotics, and connected devices.
According to Apple spokeswoman Kristin Huguet, who spoke to The Wall Street Journal, the company believes the fund could be strategically important for future developments.
Apple spokeswoman Kristin Huguet said, "We believe their new fund will speed the development of technologies which may be strategically important to Apple." She added Apple has worked with the Japanese telecom company for many years.
SoftBank is aiming to raise $100 billion for the fund, with plans to contribute at least $25 billion itself. The Saudi Arabian government is the largest contributor, pledging up to $45 billion.
SoftBank CEO Masayoshi Son has promised to invest $50 billion of the fund in the United States to create 50,000 jobs in the country, a move that's been praised by President-elect Donald Trump.
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Top Rated Comments
(View all)That oil is only going to last them so long.
True, but it only matters to those in power right now. Future royals will have to deal with whatever left.I wonder if the Saudi Arabian government is hiring... They seem to throw cash at everything.
That oil is only going to last them so long.True, but it only matters to those in power right now. Future royals will have to deal with whatever left.
Well that is seemingly why the current Royals are investing in emerging Tech, to mitigate their collapsing oil economy would have in the future.But no money for a new Mac Pro or a workstation class MBP. Seems about right with Cook in charge. I almost wonder if Cook was chosen because everyone else knew it would be folly to follow Jobs.
Can you cite a source that Apple is not making a Mac Pro because they are out of money? Thanks in advance.