Apple confirms $1 billion investment in SoftBank's $100B Vision Fund

Apple confirms $1 billion investment in SoftBank's $100B Vision Fund

Today, Apple confirmed plans to invest in SoftBank's massive $100 billion Vision Fund, the global tech fund that the telecom giant announced last October.

Japan-based SoftBank is said to invest at least $25 billion into the fund, to be used in large tech investments.

Coming to Softbank's "Vision Fund", the fund was announced in October previous year, wherein the Japanese conglomerate is projecting to raise a staggering $100Bn to fund and develop futuristic technologies.

Apart from it, a meeting was held between President-elect Donald Trump and SoftBank CEO Masayoshi Son last week, wherein the Japanese founder promised to invest an amount of $50 billion in US based tech startups, eventually creating 50,000 new jobs.

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Apple and the Japanese telecom company SoftBank have a long history of working together with the iPhone.

Son later said the $50 billion investment would come from the previously announced $100 billion fund. The investment fund, created by Japanese telecommunications giant SoftBank Group, is scheduled to launch in the next few weeks with a focus on emerging technologies.

According to Apple spokeswoman Kristin Huguet, who spoke to The Wall Street Journal, the company believes the fund could be strategically important for future developments. When Tim Cook first commented on Softbank's fund back in July, he noted an investment might be incoming, but that it won't be "something that you'll see a whole string of from us".