Apple today has invested $1 billion in Softbank’s $100 billion technology fund. Apple spokesperson Kristin Huguet has given its official statement on the investment (via the Wall Street Journal).
“We believe their new fund will speed the development of technologies which may be strategically important to Apple.” She added Apple has worked with the Japanese telecom company for many years.
Softbank’s project originated back in October and projects that it will raise $100 billion towards its Vision Fund. While $1B might seem like a lot, it’s nothing compared to $25B from Softbank itself, and $45 billion from Saudi Arabia’s government.
Investments aren’t a normal thing from Apple. However, spending some of the $200 billion in its cash reserve every once and a while could lead to some smart investments. The company notably invested $1B in Chinese ride-hailing service Didi Chuxing.