24 September 2019 10:31, UTC

Softbank, together with Apple, Microsoft, and Foxconn, is creating a new investment mechanism — an unprecedented investment fund worth $108 billion set to finance enterprises and organizations engaged in research in the field of artificial intelligence. Vision Fund 2 will finance innovative startup projects around the world.





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Technology giants such as Apple, Microsoft, Foxconn Technology Group, several major Japanese banks and funds, private investors from Taiwan and the government of Kazakhstan will participate in fundraising for the mentioned fund. All of these investors must collect a total of 70 billion dollars. The remaining 38 billion dollars will be contributed by Softbank directly.The Japanese bank is investing the profit, received by the first Vision Fund, which was created in 2017. It was then organized in partnership with the sovereign fund of Saudi Arabia, and its capital totaled $100 billion. However, Saudi representatives are excluded from the project this time. With the creation of the first fund, Softbank managed to involve the most promising startups and technology unicorns in the development of artificial intelligence.Currently, the foundation, led by, holds significant positions in 24 unicorns scattered around the world, including Slack, The We Company and enterprises like Didi Chuxing and Grab. And, of course, Uber, where it's the main shareholder.Thanks to the excellent economic performance of these companies, the first Vision Fund today generates a profit of 62%. The new fund relies on the "hot" sectors of the technological segment: artificial intelligence, the Internet of Things and related applications.Read the best crypto news analysis here! bitnewstoday.com Bitcoin, investments, regulation and other cryptocurrencies