Apple to invest $1 billion in SoftBank’s tech fund

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Apple has held conversations to invest up to $1 billion in a new $100 billion tech reserve being set up by Japan’s SoftBank Group, a source acquainted with the news matter told one of the top publication on Monday.

SoftBank is putting in at least $25 billion in the fund and has been in converses with Saudi Arabia’s Public Investment Fund (PIF) for a venture that could go up to $45 billion.

SoftBank has said it is planning to make future large-scale investments via the tech fund, instead of all alone.
Some of SoftBank’s moves have bought concern among analysts, as the firm grapples with a 13.7 trillion-yen ($119 billion) debt heap.

SoftBank and Apple were not instantly accessible for comment.

The Wall Street Journal initiated reported the news.

Through the venture, Apple would plan and hope to gain knowledge on emerging technologies, the Journal said, adding that the status of the discussions could not be learned.

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Sameeksha Bhardwaj, From ITvoir News Desk

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