Apple might invest one billion dollars in SoftBank’s Technology Fund

Apple

Apple Inc is said to have held talks to invest money into a tech fund set up by the Japanese technology firm SoftBank. If reports are to be believed, the American multinational company is looking to invest around one billion dollars into the tech fund which itself is estimated to raise around 100 billion dollars.

SoftBank said that it plans to make future large-scale investments using the tech fund rather than shelling out money of its own. Apple is hoping to gain insight on emerging technologies, post the funding. Apple was focused in small stakes, and the investment would reflect a shift in Apple’s investment strategy.

Apple had earlier invested one billion dollars in Didi Chuxing Technology, China’s homegrown ride-sharing competitor to Uber Technologies Inc. Softbank is also investing 25 billion dollars in the fund and is expected to land another 45 billion dollars from Saudi Arabia’s government fund. The sovereign-wealth fund of Abu Dhabi also is weighing a large investment as per the reports.

SoftBank Chief Executive Masayoshi Son after a meeting with President-elect Donald Trump said that he has plans to invest up to 50 billion dollars of the fund in the U.S. Apple is possibly seeing this as a potential opportunity to get insights into emerging technologies which could, in turn, help it to build unique products of its own.

[Source: WSJ]

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