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Incoming White House press secretary Karoline Leavitt comments on President-elect Trump’s U.S. industry investments, Mitt Romney’s recent supportive statements and tech CEOs flocking to Mar-a-Lago.
You are viewing: Trump, Softbank CEO to announce $100B investment in critical infrastructure, AI
President-elect Donald Trump and Softbank CEO Masayoshi Son are announcing a $100 billion investment in critical infrastructure and artificial intelligence on Monday, the incoming White House press secretary told FOX Business.
Karoline Leavitt, speaking on “Varney & Company,” called the investment “a huge win for Trump, and it’s another example of the Trump effect.”
“The CEO of SoftBank will be at Mar-a-Lago today. You will hear from him and the president-elect in just a couple of hours talking about this $100 billion investment in critical infrastructure and in AI,” she said. “And the CEO of SoftBank is also promising to create 100,000 new American jobs.
“This is President Trump delivering on the promise he made to the American people on the campaign trail that he was going to make the United States of America the manufacturing superpower of the world,” Leavitt added.
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Former President Donald Trump, right, and Masayoshi Son, founder and chief executive officer of SoftBank, participate in a groundbreaking ceremony for the $10 billion Foxconn factory complex on June 28, 2018 in Mt. Pleasant, Wisconsin. (Scott Olson/Getty Images / Getty Images)
A person involved with the event today at Mar-a-Lago told The Wall Street Journal that SoftBank – a telecommunications and internet services company based in Japan – plans to complete the investments before Trump leaves office in 2029.
The newspaper reported that SoftBank currently has around $30 billion of cash in hand, so it is unclear how the funding commitment will be met.
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President-elect Donald Trump, left, walks out with SoftBank Group Corp founder and CEO Masayoshi Son to speak to members of the media in the lobby at Trump Tower in New York City in December 2016. (Jabin Botsford/The Washington Post via Getty Images / Getty Images)
The company previously launched the SoftBank Vision Fund – a $100 billion venture capital fund that was marked by flops including office space company WeWork and construction-focused startup Katerra, according to the Journal.
Son was cited as saying in October that he believes computers will possess human-level cognitive abilities within the next two to three years.
SoftBank’s Vision Fund invested in WeWork, an office-sharing company that filed for bankruptcy last year. (Robert Alexander/Getty Images)
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“A gold rush of intelligence has arrived. The one who goes fastest will win,” Son reportedly said at the SoftBank World 2024 conference.
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