CNN
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President-elect Donald Trump and SoftBank Group CEO Masayoshi Son will announce Monday morning at Mar-a-Lago that the company is expected to invest $100 billion in U.S. projects over the next four years, with the Goal of creating 100,000 new jobs to two people familiar with the announcement.

This investment, first reported by CNBC, is similar to an investment made in December 2016, when Son pledged a $50 billion investment and the creation of 50,000 jobs. Through the company’s venture capital arm, the Vision Fund, SoftBank ultimately invested about $75 billion, CNN has learned. The total number of jobs created is more difficult to determine given the impact of Covid-19 on the country’s employment.

This year’s pledge will focus specifically on artificial intelligence and AI infrastructure, including energy, data centers and chips, a source familiar with the investment said.

New presidents and presidents-elect have often joined companies in making announcements about massive U.S. investments to promote a supposed revival of American industry. But their track record is decidedly mixed.

Softbank never made clear how many of the jobs touted in the 2016 announcement were created — and how many were the result of new investment. For example, under the proposed plan, the company announced that it would pump $1 billion into Florida startup OneWeb. But SoftBank later clarified that it had been negotiating with the startup for a “long time,” SoftBank spokesman Matthew Nicholson said at the time.

Most famously, in 2017, Trump announced a massive $10 billion electronics factory in Wisconsin with Foxconn that was expected to create 13,000 jobs. But the company eventually abandoned most of its plans for the facility and the high-tech products it was supposed to build. The company said in 2021 that it would invest just $672 million in a revised deal that would create fewer than 1,500 jobs.

However, Foxconn said it had invested $1 billion in the state and still had a large data server production site with more than 1,000 employees. But the facility announced by Trump has evolved into a Microsoft data hub aimed at training employees and manufacturers in the optimal use of artificial intelligence.

This story has been updated with additional information.