US President-elect Donald Trump, with SoftBank Group CEO Masayoshi Son at his side, announced on Monday that the Tokyo-based company would invest $100 billion in the US over the next four years, in the which the two called a boost for the country. economy

Trump said in his joint appearance with Son that the investment would create 100,000 jobs focused on artificial intelligence and related infrastructure, with the money to be deployed before Trump's term ends.

Trump said the investment was proof of "monumental confidence in the future of America." He encouraged Son to make the US$200 billion investment. The son laughed and said he would try.

The US$100 billion pledge, made at a lavish event at Trump's Mar-a-Lago club in Palm Beach, Florida, is in line with Trump's promise to strengthen the US economy and reduce the of inflation on Americans in its second year. period, which begins on January 20.

Trump called Son "one of the most accomplished business leaders of our time."

It is unclear whether jobs were created from a similar promise in 2016

Monday's announcement echoes a similar promise Son made to Trump in December 2016, then as president-elect before his first term, at Trump Tower, when Son said he would spend $50 billion USA and would create 50,000 jobs.

While that money was ultimately spent, it's unclear whether those jobs were created. SoftBank has been rebuilding its finances after the failure of New York-based office startup WeWork, and after some of the tech companies it invests in through its Vision Fund unit fell out of favor with investors.

Trump has an affinity for ads that promise thousands of jobs, even though those investments don't always materialize. Early in his first term, he announced a US$10 billion investment by Taiwanese electronics giant Foxconn in a Wisconsin factory that promised thousands of jobs, but most were abandoned.

It is unclear how SoftBank plans to finance the new investment. As of Sept. 30, it had about $29 billion in cash and cash equivalents, according to its most recent earnings report. After a sharp drop in shares between 2021 and 2023, its shares have recovered, gaining nearly 50% year-to-date.

The funding could come from various sources controlled by SoftBank, including the Vision Fund, capital projects or its chipmaker Arm Holdings, CNBC said.

Son has been a strong advocate of AI's potential and has been pushing to expand SoftBank's exposure to the sector, taking a stake in OpenAI and acquiring chip startup Graphcore.

In October, Son reiterated his belief in the arrival of artificial superintelligence, saying it would require hundreds of billions of dollars of investment.

Son said at the time that he was saving funds "so I can make the next big move," but did not provide any details.

Trump promised last week that he would extend fast-track permits to any company that invests $1 billion or more in the United States.