President-elect Donald Trump announced on Wednesday that Japan’s SoftBank Group will be investing $100 billion in US projects over the next four years, aimed at creating 100,000 jobs focused on artificial intelligence and related infrastructure. This investment mirrors a previous $50 billion commitment made by SoftBank to create 50,000 jobs during Trump’s first term.
In a joint press conference held at his Mar-a-Lago residence, Trump appeared alongside SoftBank CEO Masayoshi Son and Cantor Fitzgerald CEO Howard Lutnick, his pick for commerce secretary.
“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 being created and grown right here in the USA,” Trump said.
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“My confidence level to the economy of the United States has tremendously increased with his victory,” Son continued, adding that “President Trump is a double-down president. I’m going to have to double down,” in reference to the increased size of SoftBank’s investment.
Trump then playfully nudged Son to double down again and increase the amount to $200 billion, to which Son said he’d “try to make it happen.”
PRESIDENT TRUMP: "I'm gonna ask him right now. Would you make it $200 billion instead of $100 billion?… Would you do that?"
Softbank CEO Masayoshi Son: "I will try to make to make it happen. He is a great negotiator!"
The art of the deal. pic.twitter.com/nu3w0jvDKe
— Trump War Room (@TrumpWarRoom) December 16, 2024
“He’s doing this because he feels very optimistic about our country,” Trump said, adding that since his election, people like Son have expressed interest in “coming in with tremendous amounts of money.”
Despite concerns over past investment promises that fell short, officials have framed this deal as a fulfillment of Trump’s campaign pledges. The investment is expected to be realized within Trump’s upcoming term, marking a boost to his administration’s economic agenda.
Last week, Trump highlighted that any company investing over $1 billion in the US will receive expedited approvals, including environmental permits.
“Any person or company investing ONE BILLION DOLLARS, OR MORE, in the United States of America, will receive fully expedited approvals and permits, including, but in no way limited to, all Environmental approvals,” Trump wrote on Truth Social. “GET READY TO ROCK!!!”
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