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Report: Apple considering investment in $100B SoftBank tech fund
Apple is considering an investment in the $100 billion disruptive technology fund that SoftBank Technology's CEO mentioned after a meeting with President-elect Donald Trump, according to The Wall Street Journal.
Apple and the Japanese firm reportedly have discussed an initial potential investment of $1 billion, but nothing has been finalized.
Trump and Masayoshi Son last week announced that SoftBank would invest $50 billion in the U.S. and create 50,000 new jobs. Son later said that the $50 billion would come from a previously announced $100 billion fund that SoftBank is raising. Apple is now considering an investment in that fund.
SoftBank will put $25 billion into the fund. Another $45 billion investment from Saudi Arabia is still being finalized.
Sources told the Journal that Apple is hoping to beef up its knowledge of emerging technologies through the investment.
Apple has a long history with the Japanese tech company. In the mid 2000s, Son convinced Steve Jobs to give him exclusive rights to sell the iPhone in Japan.
Earlier this year, SoftBank completed a $32 billion dollar merger with ARM, which makes microprocessors for Apple's iPhones.