Trump and SoftBank CEO set to announce the company will invest $100 billion in US projects
CNNDec 07, 2024
SoftBank Pledges $100B US Investment Under Trump's Return
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Above: SoftBank Chief Executive Officer Masayoshi Son (L), accompanied by US Pres.-elect Donald Trump (R) at Trump's Mar-a-Lago resort on Dec. 16, 2024 in Palm Beach, Fla. Image copyright: Andrew Harnik/Staff/Getty Images News via Getty Images
The Facts
SoftBank Chief Executive Officer Masayoshi Son and US Pres.-elect Donald Trump jointly announced a $100B investment commitment in US technology projects over the next four years.
The investment aims to create 100K jobs, focusing specifically on artificial intelligence infrastructure, including energy, data centers, and chips, to be completed before 2029.
SoftBank currently has approximately $29B in cash reserves, suggesting the funding may come from various SoftBank-controlled entities such as the Vision Fund or Arm Holdings.
The Spin
Republican narrative
Trump is already attracting massive investments before taking office, as evidenced by his interaction with SoftBank's Masayoshi Son. During a live conference, Trump directly asked for a doubling of Softbank's $100B commitment, to which Son agreed to try. This reflects strong confidence in Trump's economic vision, promising job growth and industry expansion to anyone willing to invest in the US.
Democratic narrative
If this investment is part of Trump’s plan to fast-track permits for billionaires, it will very likely destroy climate progress while doing little for the average American. Polluting industries will be the first in line to bypass critical protections, putting the environment at great risk. Long-term climate and public health goals will be destroyed. Trump only cares about putting on a show for his wealthy friends, as showcased by this press conference.
