SoftBank Group announced a new $108-billion Vision of a Fund focused on the AI

FILE PHOTO: The logo of SoftBank Group, Corp, is displayed at the SoftBank World in 2017 conference to be held in Tokyo, Japan, on July 20, 2017. (REUTERS photo/Issei Kato/File Photo

TOKYO (Reuters) – SoftBank Group Corp (9984.(T) will be announced on Friday, with a second Vision of a Fund focused on investment in AI technology, he said, had been assured of memorandums of understandings (mou’s) for about $108 billion available from companies such as Apple (AAPL.(O) and Microsoft (MSFT.D).

SoftBank Group plans to invest $38 billion into the fund, it said in a statement. Other companies are expected to participate in the fund’s Foxconn Technology Group, Mizuho Bank, Sumitomo Mitsui Banking Corporation, and MUFG Bank, Ltd., the company said.

Reporting by Chang-Ran Kim; Editing by David Dolan

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