US President-elect Donald Trump, with SoftBank Group CEO Masayoshi Son at his side, announced on Monday that SoftBank would invest US$100 billion in the United States over the next four years.

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

Trump said the investment was evidence of "monumental confidence in America's future."

The US$100 billion pledge, made at a flag-bedecked event at Trump's Mar-a-Lago club in Palm Beach, Florida, fits in with Trump's vow to bolster the US economy and reduce the effect of inflation on Americans during his second term, which begins on January 20.

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

The Monday announcement echoes a similar pledge Son made with then-President-elect Trump in December 2016 at Trump Tower, when Son said he would spend US$50 billion and create 50,000 jobs.

While that money was eventually spent, it is unclear whether those jobs were created. The company has been rebuilding its finances after the failure of high-flying office-sharing start-up WeWork and after investors soured on some of the tech firms that it's invested in through its Vision Fund unit.

It's unclear how SoftBank plans to fund the new investment. As of September 30, SoftBank had about US$29 billion in cash and cash equivalents, according to its most recent earnings report. After a sharp decline in shares between 2021 and 2023, its stock has recovered, gaining nearly 50 percent year-to-date. (Reuters)