Apple invests $1 billion in SoftBank tech fund

WSJ quoted Apple spokeswoman Kristin Huguet as saying, "We believe their new fund will speed the development of technologies which may be strategically important to Apple."

Apple invests $1 billion in SoftBank tech fund

Apple has confirmed its plans to invest $1 billion in a tech fund being set up by Japan's SoftBank Group, the Wall Street Journal reported on Wednesday.

WSJ quoted Apple spokeswoman Kristin Huguet as saying, "We believe their new fund will speed the development of technologies which may be strategically important to Apple."

SoftBank has said it is investing at least $25 billion in the fund and has been in talks with Saudi Arabia's Public Investment Fund for an investment that could go up to $45 billion.


SoftBank has also said that it plans to make future large-scale investments via the tech fund, rather than on its own.

Reuters reported in December, citing sources familiar with the matter, that Apple had held talks with SoftBank about the investment.

According to CNBC report, Apple told it is planning to invest $1 billion in SoftBank's Vision Fund. "We've worked closely with SoftBank for many years and we believe their new fund will speed the development of technologies which may be strategically important to Apple," CNBC quoted the company as saying.



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