SoftBank's Son proposes $300 billion US-Japan tech fund: Report

New Delhi, May 25 (IANS) SoftBank founder Masayoshi Son has reportedly proposed setting up a massive US-Japan sovereign wealth fund to invest in cutting-edge technology and infrastructure.

According to a report by the Financial Times (FT), Son discussed this plan with US Treasury Secretary Scott Bessent.

While the proposal has not been formally submitted yet, the idea is gaining traction amid growing efforts to reshape economic and technological ties between the two countries.

The envisioned fund could require about $300 billion in starting capital and use significant financial leverage to amplify its investments, the report said.

The fund would be jointly owned and operated by the US Treasury and Japan’s Ministry of Finance, with both sides holding sizable stakes.

There are also possibilities of bringing in limited partners, which may allow retail investors from both countries to participate.

This comes at a time when Bessent is reportedly seeking new revenue streams for the US Treasury without increasing taxes.

The FT report suggests the fund could offer a potential solution by creating long-term returns through strategic investments.

However, no official statements have been made yet.

Meanwhile, earlier this year, Son had a high-profile meeting in Seoul with Samsung Chairman Lee Jae-yong and OpenAI chief Sam Altman.

The trio discussed AI strategies and possible collaborations, including the ambitious $500 billion Stargate project aimed at building advanced AI infrastructure in the US.

Son told reporters in Seoul that the discussions had been "very good" and focused on the future of AI and mobile technologies.

"I will discuss an update of the Stargate project and potential collaborations with Samsung Group," Son stated.

Son also spoke highly of South Korean technology prowess and engineers, while stressing the growing importance of AI in all countries.

While no official deals were announced at that meeting, Son had indicated that further talks would follow, including discussions on potential involvement from companies like SK hynix.

--IANS

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