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US$1billion investment in SoftBank tech fund confirmed by Apple

Thursday, 5 January 2017

Apple Inc confirmed on Wednesday its plans to invest US$1bil (RM4.4bil) in a tech fund being set up by Japan’s SoftBank Group Corp.

SoftBank has said it is investing at least US$25bil (RM112.2bil) in the fund and has been in talks with Saudi Arabia’s Public Investment Fund for an investment that could be as much as US$45bil (RM202bil).

SoftBank has also said that it plans to make future large-scale investments via the tech fund, rather than on its own.

SoftBank confirmed that Apple invested, said Benjamin Spicehandler, an outside public relations representative for SoftBank. He added that Foxconn, Oracle founder Larry Ellison’s family office and chipmaker Qualcomm also have said they intend to invest in the fund.

Source by: Internet

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