President-elect Donald Trump has claimed a major economic win by announces a $100 billion investment from the Japanese tech giant SoftBank.
Trump has revealed the investment is largely focused on the AI sector, will generate 100,000 jobs over the next four years.
The announcement was made alongside SoftBank CEO Masayoshi Son at Trump’s Mar-a-Lago estate in Florida. It was touted as a sign of renewed confidence in the US economy following Trump’s election victory last month.
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A “Monumental” Show of Confidence
Trump called the deal a clear signal of economic optimism:
“This is a monumental demonstration of confidence in America’s future.”
The president-elect credited the investment to his win, saying, “[Son] is doing this because he feels very optimistic about our country since the election.”
Trump also promised that the investment would secure America’s position as a leader in emerging technologies:
“It will ensure that artificial intelligence, emerging technologies, and other industries of tomorrow are built, created, and grown right here in the USA.”
SoftBank CEO Backs Trump’s Vision
Masayoshi Son expressed his enthusiasm for Trump’s leadership and said the $100 billion commitment reflected his confidence in the U.S. economy under Trump:
“I would really like to celebrate the great victory of President Trump. My confidence level in the US economy has tremendously increased with his victory.”
Son doubled down on his previous pledge from 2016, when he announced a $50 billion U.S. investment after Trump’s first election win.
Son said:
“This is double the amount of last time… because President Trump is a double-down president.”
The lighthearted exchange between the two leaders continued when Trump jokingly pushed Son to double the investment again to $200 billion. Son laughed but remained firm, saying his focus was on delivering the current commitment.
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History of Promises and Doubts
Trump’s big-ticket job announcements have sometimes fallen short. During his first term, Trump announced a $10 billion deal with Taiwanese electronics giant Foxconn. The project, set to create 13,000 jobs in Wisconsin, scaled down drastically and ultimately generated only around 1,000 jobs.
Similarly, after Son’s 2016 pledge to create 50,000 US jobs, it remains unclear whether that goal was achieved.
How Will SoftBank Fund It?
SoftBank’s financial position raises questions about how it will fund the new $100 billion investment. As of its most recent earnings report in September, the company had $29 billion in cash and cash equivalents. Details on the funding structure for this massive commitment were not provided.
Trump’s Promises on Global Peace
Beyond the economic news, Trump used the platform to reiterate his stance on global issues. He repeated his previous claim that the Russia-Ukraine war would never have happened under his leadership and renewed his promise to broker a peace deal between the two countries.
When asked about Russian President Vladimir Putin’s support for exiled Syrian leader Bashar al-Assad, Trump sidestepped the question, stating, “I haven’t thought about it.”
Son, meanwhile, praised Trump’s potential for fostering international stability:
“I hope Trump’s second presidency will bring the world into peace again. I think he will actually make it happen.”
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A Bold Claim with Uncertain Outcomes
While Trump’s announcement grabbed headlines, questions remain over whether SoftBank can deliver on its massive investment pledge. Past promises, including those from Trump’s first presidency, serve as a cautionary backdrop.
With the focus on AI and emerging technologies, the deal reflects growing U.S. competition to dominate industries of the future. For now, Trump’s claim of economic success sets a bold tone for his upcoming presidency, though the road to 100,000 jobs remains to be seen.
