Softbank CEO is betting big on the U.S.

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.