SoftBank CEO Masayoshi Son joined President-elect Donald Trump on Monday at Trump's Mar-a-Lago residence in Florida to unveil a $100 billion investment initiative aimed at bolstering the U.S. economy. The plan, spanning four years, is set to focus on artificial intelligence and related infrastructure, promising to create at least 100,000 jobs during Trump's upcoming term.
"My confidence level to the economy of the United States has tremendously increased with his victory," Son said during the announcement. "President Trump is a double-down president. I'm going to have to double down."
Trump hailed the announcement as a major milestone for the U.S. economy. "This historic investment is a monumental demonstration of confidence in America's future," he said. "It will help ensure that artificial intelligence, emerging technologies, and other industries of tomorrow are being created and grown right here in the USA."
The ambitious commitment mirrors a similar pledge made by Son in 2016 following Trump's first presidential victory. At that time, SoftBank announced plans to invest $50 billion in the U.S. and create 50,000 jobs.
The $100 billion initiative, according to Son, will include funding from SoftBank's Vision Fund, capital projects, and possibly its chipmaker subsidiary Arm Holdings, where SoftBank is the majority owner. Some of the investment may not be entirely new, with sources noting it could include recently announced commitments, such as SoftBank's $1.5 billion stake in OpenAI, the firm behind ChatGPT.
Karoline Leavitt, Trump's incoming White House press secretary, touted the announcement as evidence of the president-elect's ability to deliver on campaign promises even before taking office. Trump "is not even in the Oval Office yet, and he's already delivering for the American worker," she said.
In a Truth Social post following the event, Trump reinforced his administration's commitment to incentivizing significant investments. "Anyone making a $1 billion investment in the United States will receive fully expedited approvals and permits, including, but not limited to, all environmental approvals," he wrote, adding, "GET READY TO ROCK!!!"
SoftBank's portfolio includes notable companies such as Yahoo, Alibaba, and Nvidia, as well as investments in cutting-edge technologies. The firm has also collaborated with Saudi Arabia to develop a robotics manufacturing hub in Riyadh.
While Monday's announcement signals optimism, it follows a history of mixed results from high-profile investment pledges. Trump previously celebrated SoftBank's $50 billion investment in 2016, but some of those ventures, such as the office-sharing company WeWork, faced challenges. Similarly, Foxconn Technology Group's 2017 promise to build a $10 billion complex in Wisconsin and create 13,000 jobs was significantly scaled back after the pandemic altered tech demand.
Despite these setbacks, the new SoftBank initiative aligns with Trump's broader agenda to fast-track economic growth by encouraging foreign investments and reducing bureaucratic hurdles for major projects. Trump recently vowed to expedite federal permits for energy and construction initiatives exceeding $1 billion, a move intended to stimulate large-scale economic activity.
SoftBank's renewed commitment underscores its faith in the U.S. market as a hub for technological innovation and economic expansion. For Trump, the announcement serves as a key talking point as he seeks to position his presidency as a catalyst for economic revitalization.
The $100 billion pledge was first reported by The Wall Street Journal and further details are expected in the coming months as SoftBank begins deploying capital to various U.S.-based projects.
