A huge tech fund backed by Saudi Arabia and Japan's SoftBank is nearing its target of raising $100 billion. Investors have now committed $93 billion to the SoftBank Vision Fund, and the rest of the money should be raised in the next six months, the fund said in a statement. Saudi Arabia is the biggest investor, having previously committed $45 billion from its public investment fund. SoftBank is pitching in $28 billion while United Arab Emirates' sovereign wealth fund Mubadala has pledged $15 billion, and Apple (AAPL, Tech30) $1 billion. Son later told the Wall Street Journal the $50 billion investment would come from the Vision Fund.

Source: CNN May 21, 2017 14:15 UTC