Tech Giant to Invest $1b in Massive New Development

Apple's latest tech investment may come with the added bonus of getting in Donald Trump's good graces.

Apple has confirmed that it is investing $1 billion in a massive new technology fund from Japan's SoftBank Group, which has recently drawn the attention of the president-elect.

"We've worked closely with SoftBank for many years and we believe their new fund will speed the development of technologies which may be strategically important to Apple," Josh Rosenstock, a spokesman for Apple, said in a statement provided to CNNMoney.

Softbank first announced plans in October to launch a $100 billion fund dedicated to "investments in the technology sector globally." Softbank committed $25 billion to the fund and Saudi Arabia's sovereign wealth fund invested $45 billion.

The fund gained greater attention, however, when SoftBank's billionaire founder Masayoshi Son visited Trump Tower and pledged to invest $50 billion in the U.S. with the goal of creating 50,000 new jobs.

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