Published: Thu, January 05, 2017
Technology | By Ramiro Moody

Apple confirms $1 billion investment in SoftBank's Vision Fund

Apple confirms $1 billion investment in SoftBank's Vision Fund

SoftBank's fund aims to raise as much as $100 billion for the SoftBank Vision Fund, which will invest in technology companies around the globe.

"We believe their new fund will speed the development of technologies which may be strategically important to Apple", said Apple spokesman Josh Rosenstock.

Coming to Softbank's "Vision Fund", the fund was announced in October past year, wherein the Japanese conglomerate is projecting to raise a staggering $100Bn to fund and develop futuristic technologies. Softbank committed $25 billion to the fund and Saudi Arabia's sovereign wealth fund invested $45 billion.

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Apple is indeed investing some of its cash in a SoftBank fund that has won praise from President-elect Donald Trump for promising to put $50 billion into USA tech companies.

Son later said the $50 billion investment would come from the previously announced $100 billion fund. But it could also help him curry favor with a new administration if he needs help with regulatory issues, including a merger between SoftBank's Sprint (S) and T-Mobile (TMUS). But Trump has said he wants Apple to build iPhones in the USA, where the costs would be much higher. Softbank is expected to use the find to invest in smart objects, and IoT connected projects - an area Apple has mostly stayed away from. In statements to TechCrunch, both companies declined to comment on their potential interest in the fund.

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