Home
Others
Others News
Apple Said to Be in Talks to Invest $1 Billion in SoftBank's $100 Billion Tech Fund

Apple Said to Be in Talks to Invest $1 Billion in SoftBank's $100 Billion Tech Fund

By Reuters | Updated: 13 December 2016 09:46 IST

Click Here to Add Gadgets360 As A Trusted Source

Apple Inc has held talks to invest up to $1 billion (roughly Rs. 6,746 crores) in a new $100 billion tech fund being set up by Japan's SoftBank Group Corp, a source familiar with the matter told Reuters on Monday.

SoftBank is investing at least $25 billion (roughly Rs. 1,68,656 crores) in the fund and has been in talks with Saudi Arabia's Public Investment Fund (PIF) for an investment that could go up to $45 billion.

Apple Discussion

Explore More...

SoftBank has said it plans to make future large-scale investments via the tech fund, rather than on its own.

Some of SoftBank's moves have caused concern among analysts, as the firm wrestles with a JPY 13.7 trillion ($119 billion) debt pile.

SoftBank and Apple were not immediately available for comment.

The Wall Street Journal first reported the news.

Through the investment, Apple would hope to gain insight on emerging technologies, the Journal said, adding that the status of the talks could not be learned.

© Thomson Reuters 2016

Comments

Get your daily dose of tech news, reviews, and insights, in under 80 characters on Gadgets 360 Turbo. Connect with fellow tech lovers on our Forum. Follow us on X, Facebook, WhatsApp, Threads and Google News for instant updates. Catch all the action on our YouTube channel.