Oracle’s Ellison and Qualcomm invest in SoftBank fund — report
SoftBank
US - Arab Today
Oracle founder Larry Ellison will join Apple, Qualcomm and Foxconn in backing SoftBank’s $100bn technology fund, The Financial Times reported.
The move means that the “Vision Fund”, led by the Japanese telecoms group, will hit its sizeable dollar target weeks ahead of schedule, it was reported.
Abu Dhabi’s sovereign wealth fund is also in talks to invest, The Financial Times said.
Apple on Wednesday confirmed its plan to invest $1 billion in the fund.
SoftBank previously held talks with Saudi Arabia’s Public Investment Fund for an investment of as much as $45 billion.
SoftBank CEO Masayoshi Son has positioned the fund as being at the forefront of new technologies like artificial intelligence and the so-called Internet of Things (IoT), which refers to web-connected devices ranging from light bulbs to fridges and cars
Source :Arab News
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