Apple supports emerging tech with $1 Billion investment in SoftBank Vision Fund

Apple supports emerging tech with $1 Billion investment in SoftBank Vision Fund

Apple is investing $1 billion in a new fund that will work on developing new, strategically important, technologies, theWall Street Journalreported Wednesday.

An outside public relations representative for SoftBank - Benjamin Spicehandler said that SoftBank confirmed that Apple invested.

Softbank first announced plans in October to launch a $100 billion fund dedicated to "investments in the technology sector globally".

With a whopping $100 billion to point toward hot developments in tech, it's no surprise that a large chunk of the fund will be aimed at American tech companies. While $1B might seem like a lot, it's nothing compared to $25B from Softbank itself, and $45 billion from Saudi Arabia's government. Foxconn, Qualcomm and the family office of Oracle founder Larry Ellison have all also held talks with SoftBank about possible investment opportunities, according to Reuters.

Qualcomm (QCOM, Tech30), a chip maker that works with Apple, is also reportedly investing in the Softbank Vision Fund.

The fund manages to bring in various companies who compete with each other and have overlapping interests.

SoftBank's CEO Masayoshi Son has already pledged to U.S. President-elect Donald Trump that $50 billion of the new fund will be invested in the U.S. and create thousands of jobs.

The fund's main focus will be on technologies focusing on artificial intelligence, robots and the so-called "internet of things" of connected devices, sources told the FT.

Japan yacht SoftBank participates on first day of Americas Cup race in ny harbour. It was later revealed the money would come from SoftBank's own Vision Fund.

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