On Monday, SoftBank CEO Masayoshi Son joined President-elect Donald Trump to announce that his company would invest $100 billion into the US over the next four years. 

In a press conference at Trump’s Mar-a-Lago residence, Trump also announced that SoftBank’s investment would create, at a minimum, 100,000 American jobs. Trump called it a “historic investment” that will “help ensure that artificial intelligence, emerging technologies and other industries of tomorrow are built, created and grown right here in the USA.” 

Son and Trump have had a close working relationship since 2016 during Trump’s first term, when Son announced that SoftBank would invest $50 million in US startups and create 50,000 jobs. At the Monday conference, Son said he chose to double his 2016 investment because “President Trump is a double down president, I’m going to have to double down.”