RIYADH: Apple has held talks to invest up to $1 billion in a new $100 billion tech fund being set up by Japan’s SoftBank Group Corp, a source familiar with the matter told Reuters.
SoftBank is investing at least $25 billion in the fund and has been in talks with Saudi Arabia’s Public Investment Fund (PIF) for an investment that could go up to $45 billion. SoftBank has said it plans to make future large-scale investments via the tech fund, rather than on its own. Some of SoftBank’s moves have caused concern among analysts, as the firm wrestles with a 13.7 trillion-yen ($119 billion) debt pile.
