The Street
  • 13 hours ago
SoftBank CEO Masayoshi Son has announced a $100 billion investment in the United States over the next four years.
Transcript
00:00I'm Conway Gaines reporting from the New York Stock Exchange. Here's what we're watching on
00:03the streets today. Investors are gearing up for the Federal Reserve's final meeting of 2024.
00:09Expectations are for a 25 basis point interest rate cut at this meeting. Fed watchers, however,
00:14think the Fed may pause from cutting rates in early 2025 with food and lodging costs leading
00:20to a resurgence in inflation. In other news, Japanese billionaire businessman Masayoshi San
00:26is betting on America and the incoming Trump agenda, according to CNBC. The head of the
00:32influential tech investing firm SoftBank is prepared to make a $100 billion investment
00:37over the next four years during a visit with Trump at Mar-a-Lago. This comes after San had
00:43already announced plans to invest $1.5 billion in chat GPT parent OpenAI. According to the report,
00:50San is also pledging 100,000 U.S. jobs centered on artificial intelligence. His plans could be
00:57fulfilled through his stake in chipmaker Arm Holdings, through the company's Vision Fund,
01:02or a number of other holdings. The public bromance between San and Trump isn't new. San made his way
01:08to Trump Towers in 2016 to pledge $50 billion and 50,000 jobs during Trump's first win. There's
01:15little reporting on how much of that actually happened. But San is not the only billionaire
01:20chumming it up with the president-elect. Elon Musk, the world's richest man, is a Mar-a-Lago
01:25fixture. Meta CEO Mark Zuckerberg has reportedly already visited Trump, and Amazon founder Jeff
01:31Bezos is expected to do the same. That'll do it for your daily briefing from the New York Stock
01:36Exchange. I'm Conway Gittens with The Street.

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