Apple to Invest $1 Billion in SoftBank Fund to Support Tech
- iPhone maker was ‘working closely’ with SoftBank for years
- Qualcomm says it also will invest undisclosed amount in fund
The Apple Inc. logo is seen on the facade of the new Apple Inc. flagship store at Union Square in San Francisco, California, U.S., on Thursday, May 19, 2016.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Apple Inc. is planning to invest $1 billion in SoftBank Group Corp.’s giant new technology fund, adding its name to a growing list of interested parties and giving the iPhone maker a new avenue to tap up-and-coming technologies.
Qualcomm Inc. also said it will participate in the fund, but the terms and the amount of its investment are still under discussion. Foxconn Technology Co. Ltd. and Oracle Corp. Chairman Larry Ellison also intend to contribute, according to a person familiar with the matter.