After meeting with SoftBank founder and CEO Masayoshi Son at the Trump Tower in New York, Donald Trump announced yesterday that SoftBank, a Japanese tech company, would be investing $50 Billion in the United States; thus, introducing 50,000 new jobs.

Masa (SoftBank) of Japan has agreed to invest $50 billion in the U.S. toward businesses and 50,000 new jobs….

— Donald J. Trump (@realDonaldTrump) December 6, 2016

President-elect Trump made the announcement at the Trump Tower lobby and praised Masayoshi as one of the best in the industry.

Masa said he would never do this had we (Trump) not won the election!

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— Donald J. Trump (@realDonaldTrump) December 6, 2016

SoftBank also owns 80 percent of Sprint and Sprint shares have jumped up by 2% since the announcement.

Tomoaki Kawasaki, an analyst, commented to Bloomberg that “there is a chance that the incoming administration will have a different approach to telecom regulations. Son has said before that Sprint needs T-mobile to compete with the top-two operators in the U.S. market.”