Incoming White House press secretary Caroline Levitt commented on President-elect Trump's investments in U.S. industry, Mitt Romney's recent supportive comments, and the tech CEOs flocking to Mar-a-Lago.
President-elect Donald Trump and SoftBank CEO Masayoshi Son will announce a $100 billion investment in critical infrastructure and artificial intelligence on Monday, the incoming White House press secretary told FOX Business.
Caroline Levitt told Varney & Company that the investment was “a huge win for Trump, and another example of the Trump effect.”
“The CEO of SoftBank is coming to Mar-a-Lago today, and you will hear from him and the president-elect in just a few hours about this $100 billion investment in critical infrastructure and AI,” she said. said. “And SoftBank's CEO has also pledged to create 100,000 new jobs in America.
“This is a fulfillment of the promise President Trump made to the American people during his campaign to make the United States the world's manufacturing superpower,” Levitt added.
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Former President Donald Trump (right) and SoftBank founder and CEO attend a groundbreaking ceremony for the $10 billion Foxconn factory complex in Mount Pleasant, Wisconsin, June 28, 2018. Mr. Masayoshi Son. (Scott Olson/Getty Images/Getty Images)
People involved in today's Mar-a-Lago event told the Wall Street Journal SoftBank, a Japan-based telecommunications and internet services company, said it plans to complete the investment before President Trump leaves office in 2029.
The newspaper reported that SoftBank currently has about $30 billion in cash, and it is unclear how the financing commitments will be met.
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President-elect Donald Trump (left) emerges with Masayoshi Son, founder and CEO of SoftBank Group, to speak to members of the media in the lobby of Trump Tower in New York City in December 2016. (Javin Botsford/The Washington Post via Getty Images/Getty Images)
According to the magazine, the company previously launched the SoftBank Vision Fund. The fund is a $100 billion venture capital fund, but notable failures include office space company WeWork and construction-focused startup Katerra.
Son reportedly said in October that he believes computers will have human-level cognitive abilities within the next two to three years.
SoftBank's Vision Fund invested in office-sharing company WeWork, which filed for bankruptcy last year. (Robert Alexander/Getty Images)
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“The gold rush of intelligence has arrived. Those who advance fastest will win.” The son is reported to have said: At the SoftBank World 2024 Conference.
