US President-elect Donald Trump announced on Tuesday that Japanese telecom and internet firm SoftBank's CEO Masayoshi Son has agreed to invest billions of dollars in the U.S. Let's hear what Trump had to say.

"This is Masa of Softbank from Japan, and he's just agreed to invest $50 billion dollars in the United States and 50,000 jobs. And he's one of the great men of industry, so I just want to thank you very much." said Donald Trump.

The Softbank CEO said the investment plan targets new startups in the US. Son also credited Trump's commitment to deregulation for the investment that would come from a $100 billion fund Son is establishing with Saudi Arabia's sovereign-wealth fund and other partners.

The investment revived Wall Street speculation that U.S. telecommunications giant Sprint controlled by SoftBank, might rekindle merger talks with T-Mobile US. The deal died under pressure from U.S. regulators.