Qualcomm Inc., the global wireless giant, confirmed its commitment to invest in a new technology fund of SoftBank Group Corp., a Japanese telecommunication, and Internet multinational corporation.
This investment will reportedly lead SoftBank’s Vision Fund to a value of US$ 100 Bn soon.
Apple Inc. first committed to investing in SoftBank’s technology fund and Qualcomm has announced to join Apple. Qualcomm recently finalized the commitment of this investment; however, the investment amount is undisclosed.
Apple and Qualcomm’s interest in this fund indicates their tendency to take a leap beyond smartphone.
Qualcomm and Softbank will collectively form one of the largest private capital pools globally, following an approval from Silicon Valley.
Masayoshi Son, CEO, SoftBank, aspires to thrive in tandem with the upcoming technology revolution through investments in next-gen technologies, including robotics and artificial intelligence.
Although the SoftBank Vision Fund was announced well before 2016 ended, it was officially in the news only in December 2016.
Reports indicate that the meeting of Masayoshi Son with the new President-elect Donald Trump holds big importance in this matter.
The meeting was remarkable because of Son’s commitment to invest US$ 50 Bn in the U.S. market in order to create a large number of jobs within the U.S. Expert predictions reflect the new technology fund to be the source of this huge investment.
Although one of the top three mobile carrier companies in Japan, SoftBank CEO – Son has always been focusing on expansion through strategic deals. In 2013, the company acquired a major control of Sprint Corp. (U.S.-based), whereas, in 2016, the company was in the news for ARM Holdings PLC’s acquisition worth US$ 32 Bn. While this was SoftBank’s biggest takeover, it focused largely on IoT. Post-acquisition, Son was quoted predicting the operation of thousands of everyday gadgets around on roughly one trillion chips by the next two decades.
Qualcomm, Apple, and SoftBank are already linked through the global supply chain and with this deal, form a fierce triangle in the dynamic world of wireless communication technology.