Trump and SoftBank CEO Announce Investment into US Artificial Intelligence [Video]

What’s New

President-elect Donald Trump and SoftBank Group CEO Masayoshi Son announced Monday morning in Mar-a-Lago that the multinational venture holding company will invest $100 billion United States projects over the next four years.

Why It Matters

In a post to his social media site Truth Social, Trump said anyone making a $1 billion investment into the country will “receive fully expedited approvals and permits, including, but in no way limited to, all environmental approvals.” SoftBank had made a similar investment into the United States during Trump’s first term in office. Before taking office, Trump had threatened to levy tariffs on Mexico and Canada.

“I am truly excited to make this happen,” Son said. “I think President Trump is the double down president.”

Son’s $100 billion investment over the next four years will be specifically focused on artificial intelligence and its related infrastructure.