82 days ago
Apple is investing in SoftBank Group’s new technology fund, reports The Wall Street Journal. The company confirmed its plans with the outlet to invest $1 billion in the SoftBank Vision Fund to help finance new technologies that it could use in the future.“We believe their new fund will speed the development of technologies which may be strategically important to Apple,” Apple spokeswoman Kristin Huguet told The Journal. She also noted that Apple has been working with SoftBank for several years.SoftBank is planning on investing $25 billion into the fund itself, and it is aiming to raise $100 billion in total for the fund to launch it in 2018. The Saudi Arabian government, as it stands, is the largest contributor right now with $45 billion already invested. This is also par for the course for Apple of late, who just invested $1B in Chinese ride-sharing co. Didi Chuxing.