Hon Hai Precision (HNHPF) , also known as Foxconn (FXCOF) and a key supplier to Action Alerts PLUS holding Apple(AAPL) - Get Report , said Wednesday that it could be planning a $7 billion investment program in the United States that would create 50,000 jobs.
"We can confirm that we are in preliminary discussions regarding a potential investment that would represent an expansion of our current U.S. operations," the company said in a statement published in London. "While the scope of the potential investment has not been determined, we will announce the details of any plans following the completion of direct discussions between our leadership and the relevant U.S. officials."
"Those plans would be made based on mutually-agreed terms," the company said.
The statement follows reports that SoftBank (SFTBY) founder and CEO Masayoshi Son said he will invest $50 billion in U.S. businesses as part of an effort to create 50,000 new jobs.The announcement came after Son met with Trump at Trump Tower in New York City Tuesday.
Son told The Wall Street Journal that the money will be coming from a $100 billion investment fund that he recently set up with Saudi Arabia's sovereign-wealth fund and other partners to invest in technology over the next decade.
Following the meeting, Son and Trump appeared in front of a group of reporters to briefly discuss the deal. A CNBC video appeared to show Son with documents bearing the Hon Hai Precision logo, which may have prompted the official statement.
"He's just agreed to invest $50 billion in the U.S. and 50,000 jobs," Trump said, according to a video clip from CSPAN. "He's one of the great men of industry, so I just want to thank you. One of the truly great men."