Softbank CEO and Trump to announce $100 billion investment in US

Softbank CEO Masayoshi Son will announce a $100 billion investment in the United States over the next four years during a Monday visit to President-elect Donald Trump’s Mar-a-Lago residence in Palm Beach, Florida, sources familiar with the matter told CNBC’s Sara Iron.

The billionaire investor and founder of the Japanese tech investment firm will also pledge in the joint announcement with Trump to create 100,000 jobs focusing on artificial intelligence and related infrastructure, the sources said. The money will be deployed before the end of Trump’s term.

The funding can come from various sources controlled by Softbank, including Vision Fund, capital projects or chipmaker Arm holdwhere the company is the majority owner. Some of the money won’t necessarily be recently raised, but could include some funding already announced, such as Softbank’s recent $1.5 billion investment in OpenAI, the tech company behind chatbot ChatGPT.

Softbank’s son and Trump made a similar announcement in 2016 after Trump was elected president for the first time, when the Japanese company agreed to invest $50 billion in the United States with the goal of creating 50,000 jobs.