Qualcomm to Invest in SoftBank’s New Technology Fund, WSJ Saysby
Chipmaker would follow Apple in contributing to new fund
Half of fund is due to be invested in U.S., creating jobs
Qualcomm Inc., the largest maker of mobile phone chips, will invest in a new $100 billion technology fund that Japan’s SoftBank Group Corp. plans to launch this year, the Wall Street Journal reported.
It was unclear how much the San Diego-based company would invest, the Journal said, citing unnamed people familiar with the matter. Qualcomm would join Apple Inc., which has also considered investing as much as $1 billion in the SoftBank fund, people familiar with the matter said earlier.
SoftBank Chief Executive Officer Masayoshi Son told President-elect Donald Trump in December that about half of the fund would be invested in the U.S., pledging to create 50,000 new jobs. The SoftBank Vision Fund is based in London, and counts Jonathan Bullock, chief operations officer of SoftBank International, and Alok Sama, SoftBank’s chief financial officer, as senior advisers.
The telecom company’s fund has gathered the $100 billion in commitments it was looking for and is set to formally launch in the coming weeks, the Journal said.