SoftBank Group, a prominent Japanese financial and technology giant, has recently revealed plans to invest $100bn in the U.S. within the next 4 years. This program, announced by CEO Masayoshi Son together with President-elect Donald Trump plans to bring 100,000 jobs with a focus on developing artificial intelligence and infrastructure.
The announcement was made at Trump’s Mar-a-Lago estate in Palm Beach, Florida. Trump also made emphasis on the commitment of the administration to wooing foreign direct investments to boost the country’s economy. Son spoke positively about the U.S. economy after Trump’s win, and this is in line with SoftBank’s focus on innovation in the country.
Funding to propel AI innovation
The investment will be made by the Vision Fund and a majority stake in Arm Holdings, a semiconductor company, and other sources. Some of the funds may be fresh capital, but the investment could also encompass prior-announced initiatives, such as SoftBank’s $1.5 billion financing of OpenAI, the creator of ChatGPT.
Such a large investment belief that SoftBank sees the United States as a center for technological innovation. Son pointed to the company’s emerging optimism about the nation’s economic prospects, which backs the new administration’s emphasis on new technologies.
The investment is expected to focus on artificial intelligence and other technologies in the United States. The president noted that the initiative is crucial for maintaining the US as a technological leader in the modern world.
This is also in line with Japan’s attempt to cement its economic ties with the US despite existing trade tensions in the new administration. According to Stanford University’s AI Index, the United States is the most advanced country in AI, with the best research, private investment, and responsible development compared to China.
The report reveals that private funding for AI in the US was $67.2 billion in the last year, while in China, it was $7.8 billion. Also, the United States remains a leader in producing scholarly articles on ethical applications of AI in business.
It also recognizes that China has made a significant increase in the development of AI, as evidenced by its leading role in patent applications and increased research output. However, the United States is still leading owing to the development of infrastructure, legalized system, and power diplomacy.
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