Why is tech giant SoftBank investing over $100 billion in the US?
Japanese tycoon Masayoshi Son has joined President-elect Donald Trump in announcing plans by technology and telecoms giant SoftBank Group to invest $100 billion in projects in the United States
BANGKOK — Japanese tycoon Masayoshi Son and President-elect Donald Trump have announced plans for technology and telecoms giant SoftBank Group to invest $100 billion in projects in the United States over the coming four years.
Trump said the investments in building artificial intelligence infrastructure would create 100,000 jobs, twice the 50,000 promised when Son pledged $50 billion in U.S. investments after Trump's victory in 2016.
Son, a founder and CEO of SoftBank Group, is known for making bold choices that sometimes pay big and sometimes don't. SoftBank has investments in dozens of Silicon Valley startups, along with big companies like semiconductor design company Arm and Chinese e-commerce giant Alibaba. The stock market rally and craze for AI has boosted the value of its assets, but it's unclear whether its investments will create that many jobs.
Son founded SoftBank in the 1980s, expanding it from a telecoms carrier to encompass renewable energy and technology ventures. A leading figure in Japan’s business world, he was an early believer in the internet, pouring billions into Silicon Valley start-ups and other technology companies.
Son comes from a humble background. While at the University of California, Berkeley, he invented a pocket translator that he sold for $1 million to Japanese electronics maker Sharp Corp. He has made a career of risk-taking, pushing adoption of broadband services when the internet was still relatively new in Japan. His $20 billion takeover of U.S. mobile phone carrier Sprint Nextel Corp. in
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