SoftBank CEO To Invest $100B In US After Meeting Trump At Mar-a-Lago

SoftBank Group is promising a big investment in the United States during the next Trump administration.

President Donald Trump met with Masayoshi Son, the CEO of SoftBank Group at Mar-a-Lago Monday to announce the Japanese company is investing $100 billion in projects based in the United States in the next four years.

Trumped referred to Son's investment as "a monumental demonstration of confidence in America's future."

"I'm very, very excited," Son said.

The SoftBank Group, which has $30 billion of cash on hand, said that its American investments could create 100,000 jobs in artificial intelligence (AI) before 2029, the Wall Street Journal reported.

Son seems to be following suit on Trump's promise of expediting permitting to any company that invests $1 billion or more in the United States.

This isn't the first time SoftBank has promised big spending in the U.S. In 2016, Son pledged to create 50,000 jobs and invest $50 billion in American startups. It is unclear how much of that money was actually invested.

SoftBank Group is part of a long list of investors that contributed to the latest funding round for OpenAI and Databricks, which reflects Son's eagerness to pump money into artificial intelligence.

Son made his name with successful early investments in Chinese e-commerce titan Alibaba and internet pioneer Yahoo, but took a financial beating in a failed investment in WeWork.

Son has repeatedly said that "artificial superintelligence" will arrive in a decade, bringing new inventions, new medicine, new knowledge and new ways to invest.