Apple revealed Wednesday that it is pouring $1 billion in what is now the world’s largest technology investment fund,
International tech giants Qualcomm and Foxconn also announced this week that they are joining the project, tentatively called the Vision Fund, as well as billionaire Oracle founder Larry Ellison.
The outpouring of support allowed the Vision Fund, initiated by Japan’s SoftBank Group in October to reach its $100 billion weeks ahead of schedule.
"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, Apple spokesman, said in a statement.
The fund has earned the praise of President-elect Donald Trump. Masayoshi Son, the founder of SoftBank, has been actively courting Trump’s interest for weeks.