Apple joins SoftBank’s Vision fund with $1 billion investment

Right now, Apple confirmed plans to invest in SoftBank’s huge $ one hundred billion Vision Fund, the international tech fund that the telecom giant announced last October.

In a statement to TechCrunch, Apple verified its involvement in the fund, a rumor first reported by The Wall Street Journal in mid December:

“Apple is organizing 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 might be strategically crucial to Apple.”

The fund, a joint effort amongst SoftBank and the government of Saudi Arabia’s Public Investment Fund (PIF), reportedly seeks to invest in emerging technologies, which includes artificial intelligence and the World wide web of Things. In December, Apple published a paper detailing its AI research, and its interest in IoT by means of HomeKit is ongoing. Beyond’s Apple’s $ 1 billion investment, SoftBank is investing roughly $ 25 billion in the Vision fund, with yet another $ 45 billion to come from Saudi Arabia.

Qualcomm and Oracle are also rumored to be interested. In statements to TechCrunch, each companies declined to comment on their possible interest in the fund.

The Vision Fund recently became entangled with President-elect Donald Trump, when he claimed credit for Vision Fund plans that pre-dated his election win. Trump seems to have coordinated with SoftBank CEO and Sprint Chairman Masayoshi Son, tweeting a misleading boast about his part in making new jobs. Provided SoftBank’s enduring want to get T-Mobile, Son’s interest in buttering up the deregulation-friendly incoming president is apparent.

With a whopping $ one hundred billion to point toward hot developments in tech, it is no surprise that a massive chunk of the fund will be aimed at American tech businesses. Now, through Apple, a sliver of the international fund will originate stateside as nicely.

Featured Image: r.nagy/Shutterstock

VW to pour $200 million more into an anti-pollution fund

It really is not certain what will take place to the vehicles themselves, although a judge has given a December 19th deadline. VW may possibly end up acquiring back 20,000 of the three-liter cars and fixing the emissions of the remaining 60,000.

These autos (which consist of Audi and Porsche models) never violate American emissions laws really so egregiously as the 2-liter models. They “only” exceed the limits by up to nine occasions versus 40 instances on the two-liter machines. Nevertheless, it really is clear that regulators want to account for every single instance of emissions abuse, not just the most apparent examples.

Engadget RSS Feed