SoftBank, a Japanese telecommunications company, will make a "historic" $100 billion investment in American projects over the next four years, President-elect Donald Trump and SoftBank CEO Masayoshi Son announced Monday.
The multibillion-dollar investment is expected to create at least 100,000 jobs focused on artificial intelligence and emerging technologies, including energy, data centers, and chips, CNN reported.
"Masa runs one of the largest companies in Japan and among the most successful investment and technology companies anywhere in the world, one of the most successful investors in the world," Trump said. "And today, I'm thrilled to announce that SoftBank will be investing $100 billion in America, creating 100,000 American jobs at a minimum. And he's doing this because he feels very optimistic about our country since the election."
"This historic investment is a monumental demonstration of confidence in America's future. And it will help ensure that artificial intelligence, emerging technologies, and other industries of tomorrow are built, created, and grown right here in the USA," Trump added.
Son said that his investment is a result of his "tremendously increased" confidence in the U.S. economy since Trump’s electoral victory.
"I would really like to celebrate the great victory of President Trump, and my confidence level to [sic] the economy of the United States has tremendously increased with his victory," he said. "So because of that, I'm now excited to commit this $100 billion and 100,000 jobs into the United States."
The investment is part of Trump's broader efforts to deliver on his pledge to prioritize American workers, boost the economy, and curb inflation.
In a Truth Social post last week, Trump said anyone making a $1 billion investment in the United States "will receive fully expedited approvals and permits, including, but in no way limited to, all Environmental approvals." Trump reiterated this promise on Monday.
"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, he was going to draw in foreign investors who want to do business here," Karoline Leavitt, Trump’s incoming White House press secretary, said.