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Apple Said to Be in Talks to Invest $1 Billion in SoftBank's $100 Billion Tech Fund

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Apple Said to Be in Talks to Invest $1 Billion in SoftBank's $100 Billion Tech Fund

Apple Inc has held talks to invest up to $1 billion (roughly Rs. 6,746 crores) in a new $100 billion tech fund being set up by Japan's SoftBank Group Corp, a source familiar with the matter told Reuters on Monday.

SoftBank is investing at least $25 billion (roughly Rs. 1,68,656 crores) in the fund and has been in talks with Saudi Arabia's Public Investment Fund (PIF) for an investment that could go up to $45 billion.

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

Some of SoftBank's moves have caused concern among analysts, as the firm wrestles with a JPY 13.7 trillion ($119 billion) debt pile.

SoftBank and Apple were not immediately available for comment.

The Wall Street Journal first reported the news.

Through the investment, Apple would hope to gain insight on emerging technologies, the Journal said, adding that the status of the talks could not be learned.

© Thomson Reuters 2016

 

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