Apple confirmed the $1 billion investment in SoftBank’s vision fund where this money will be used to support the strategically important technologies. Apple invested this enormous amount of money in the Japanese telecom’s company saying they believe this new fund will speed the development which will be strategically important to Apple.
Qualcomm Inc and Saudi Arabia’s government also plan to invest more than $45 billion over a five-year period, according to The Wall Street Journal. Foxconn still hasn't said any announcements for the future investment plans, but they plan to invest and the amount is still under discussion. The people said SoftBank’s investment into the U.S. startup OneWeb Ltd which aims to use the satellites to bring internet access to rural areas could be placed into the fund. Back in 2008 SoftBank made a deal with Apple to be the exclusive iPhone seller in Japan but those phones are mostly made by Foxconn. Apple’s investment in SoftBank’s fund could help them to integrate new technologies into its devices and make them compatible with connected products such as thermostats.
SoftBank will receive a big investing from Apple and Saudi Arabia’s government and they plan to make future large-scale investments via the tech fund rather than on its own, according to CNBC’s report. Even though SoftBank still haven’t responded to the request for comment, Apple said they have been working with SoftBank for many years and they think this investment will speed up the development process of the technologies which will be strategically very important to Apple.
SoftBank’ vision fund is hoping to raise $100 billion in the next five years and to become one of the world’s largest technology financing funds, USA Today reported. After their CEO, Masayoshi Son met with the president Donald Trump last month in New York, they plan to invest $50 billion into the U.S. economy and add 50.000 jobs.
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