Japan's SoftBank plans to invest $100 billion in US projects over the next four years.

PALM BEACH, Fla. (AP) — President-elect Donald Trump joined SoftBank Group CEO Masayoshi Son to announce plans by the Japanese company to invest $100 billion in U.S. projects over the next four years.

Trump announced the planned investments, which are expected to focus on artificial intelligence, at his Mar-a-Lago resort on Monday, with Son at his side, along with Howard Lutnick, head of investment bank Cantor Fitzgerald and Trump’s pick for commerce secretary.

“He’s doing this because he feels very optimistic about our country,” Trump said. The president-elect said that since his election, people have expressed interest in “coming in with tremendous amounts of money."

The investments by SoftBank, Trump said, are “a monumental demonstration of confidence in America’s future.”

Son said he wanted to “celebrate the great victory of President Trump” and that he will “bring the world into peace again.”

“I am truly excited to make this happen,” he said.

After the president-elect noted the $100 billion was double an investment pledge Son made in 2016 on the eve of Trump's first administration, the technology mogul said he was doubling down. Trump, appearing to joke, asked him at the microphone if he would double the investment again: “Would you make it $200 billion?”

Trump has in the past announced deals with companies overseas with much fanfare, though some companies in the end failed to deliver on those promised investments.

Foxconn Technology Group, a Taiwanese company best known for producing Apple iPhones, won Trump's praise after announcing plans in 2017 to build a $10 billion complex that would employ 13,000 people in a small town just south of Milwaukee. But Foxconn's investment has been scaled back to a fraction of that after the COVID-19 pandemic.

Monday's announcement, however, is a win for Trump, who has used the weeks since the election to promote his policies, negotiate with foreign leaders and try to strike deals.

He had already threatened steep tariffs for Mexico and Canada, which prompted a visit from Canada’s prime minister aIn a post on his Truth Social site last week, Trump said anyone making a $1 billion investment in the United States “will receive fully expedited approvals and permits, including, but in no way limited to, all Environmental approvals.”nd a call with Mexico's president.

SoftBank was founded in 1981 by Son, a brash entrepreneur who studied at the University of California, Berkeley. SoftBank makes investments in a variety of companies that it groups together through its capital venture fund.

The company's investment portfolio includes search engine Yahoo, Chinese retailer Alibaba, and artificial intelligence company Nvidia. Earlier this year, it joined a partnership with Saudi Arabia to build a robot factory in Riyadh.

After Trump won the White House the first time in 2016, he met with Son before taking office. Son then announced plans to create 50,000 jobs and invest $50 billion in U.S. startups, which Trump celebrated on social media, saying it never would have happened if he hadn’t won the election.

Not all investments have panned out. The most notorious was SoftBank's massive stake in the office-sharing company WeWork which sought bankruptcy protection last year. It also invested in the failed robot pizza-making company Zume.

Monday's announcement comes days after Trump vowed to expedite federal permits for energy projects and other construction worth more than $1 billion.

Associated Press writers Jill Colvin in New York, along with Paul Wiseman and Zeke Miller in Washington, contributed to this story.

SoftBank Group CEO Masayoshi Son smiles as he listens to President-elect Donald Trump during a news conference at Mar-a-Lago, Monday, Dec. 16, 2024, in Palm Beach, Fla. (AP Photo/Evan Vucci)

President-elect Donald Trump speaks during a news conference at Mar-a-Lago, Monday, Dec. 16, 2024, in Palm Beach, Fla., as SoftBank Group CEO Masayoshi Son, right, and Commerce Secretary nominee Howard Lutnick listen. (AP Photo/Evan Vucci)

House Speaker Mike Johnson, left, President-elect Donald Trump, from third left, Vice President-elect JD Vance and Trump's pick for Defense Secretary Pete Hegseth, attend the NCAA college football game between Army and Navy at Northwest Stadium in Landover, Md., Saturday, Dec. 14, 2024. (AP Photo/Stephanie Scarbrough)

A Ukrainian drone strike killed one person and wounded three others in the Russian city of Voronezh, local officials said Sunday.

A young woman died overnight in a hospital intensive care unit after debris from a drone fell on a house during the attack on Saturday, regional Gov. Alexander Gusev said on Telegram.

Three other people were wounded and more than 10 apartment buildings, private houses and a high school were damaged, he said, adding that air defenses shot down 17 drones over Voronezh. The city is home to just over 1 million people and lies some 250 kilometers (155 miles) from the Ukrainian border.

The attack came the day after Russia bombarded Ukraine with hundreds of drones and dozens of missiles overnight into Friday, killing at least four people in the capital Kyiv, according to Ukrainian officials.

For only the second time in the nearly four-year war, Russia used a powerful new hypersonic missile that struck western Ukraine in a clear warning to Kyiv and NATO.

The intense barrage and the launch of the nuclear-capable Oreshnik missile followed reports of major progress in talks between Ukraine and its allies on how to defend the country from further aggression by Moscow if a U.S.-led peace deal is struck.

Ukrainian President Volodymyr Zelenskyy said Saturday in his nightly address that Ukrainian negotiators “continue to communicate with the American side.”

Chief negotiator Rustem Umerov was in contact with U.S. partners Saturday, he said.

Separately, Ukraine’s General Staff said Russia targeted Ukraine with 154 drones overnight into Sunday and 125 were shot down.

Follow the AP’s coverage of the war in Ukraine at https://apnews.com/hub/russia-ukraine

This photo provided by the Ukrainian Security Service on Friday, Jan. 9, 2026, shows a fragment believed to be a part of a Russian Oreshnik intermediate range hypersonic ballistic missile that hit the Lviv region. (Ukrainian Security Service via AP)

President of Ukraine Volodymyr Zelenskyy, second left, listens to British Defense Secretary John Healey during their meeting in Kyiv, Ukraine, Friday, Jan. 9, 2026. (AP Photo/Danylo Antoniuk)