Investment Confirmed: Apple to Put $1 Billion into SoftBank’s Vision Fund
Today, Apple confirmed plans to invest in SoftBank’s massive $100 billion Vision Fund, the international tech fund the telecom giant announced last October. In a statement to TechCrunch, Apple verified its involvement in the fund, a rumor first reported by The Wall Street Journal in mid-December:
"Apple is planning to invest $1 billion in SoftBank’s Vision Fund. We’ve worked closely with SoftBank for many years and we believe their new fund will speed the development of technologies which may be strategically important to Apple."
What Is SoftBank’s Vision Fund?
The fund, a joint effort between SoftBank and the government of Saudi Arabia’s Public Investment Fund (PIF), reportedly seeks to invest in emerging technologies, including artificial intelligence and the Internet of Things. In December, Apple published a paper detailing its AI research, and its interest in IoT through HomeKit is ongoing.
Who Else Is Interested?
Beyond Apple’s $1 billion investment, SoftBank is investing roughly $25 billion in the Vision Fund, with another $45 billion to come from Saudi Arabia. Qualcomm and Oracle are also rumored to be interested. In statements to TechCrunch, both companies declined to comment on their potential interest in the fund.
Update: Foxconn, Qualcomm, and Larry Ellison’s Family Office Plan to Invest
SoftBank confirmed to TechCrunch that Foxconn, Qualcomm, and Larry Ellison’s family office plan to invest in the Vision Fund. This news comes after President-elect Donald Trump claimed credit for Vision Fund plans that pre-dated his election win.
The Role of President-Elect Donald Trump
The Vision Fund recently became entangled with President-elect Donald Trump, when he claimed credit for Vision Fund plans that pre-dated his election win. Trump appears to have coordinated with SoftBank CEO and Sprint Chairman Masayoshi Son, tweeting a misleading boast about his role in creating new jobs.
Why Is This Investment Important?
With a whopping $100 billion to point toward hot developments in tech, it’s no surprise that a large chunk of the fund will be aimed at American tech companies. Now, through Apple, a sliver of the international fund will originate stateside.
The Potential Impact on Tech
The Vision Fund is set to have a significant impact on the tech industry. With $100 billion at its disposal, SoftBank will be able to invest in emerging technologies and potentially create new jobs. However, the fund’s connection to President-elect Donald Trump has raised questions about its potential influence.
Key Players Involved
- Apple: Investing $1 billion in SoftBank’s Vision Fund
- SoftBank: Investing roughly $25 billion in the Vision Fund
- Saudi Arabia’s Public Investment Fund (PIF): Contributing $45 billion to the fund
- Qualcomm and Oracle: Rumored to be interested in investing in the Vision Fund
Related News
- Fintech: Nelly raises $51 million to digitalize medical practices across Europe
- Startups: Nvidia backs MetAI, a Taiwanese startup that creates AI-powered digital twins
- Space: Google-backed Pixxel launches India’s first private satellite constellation
