A global technology fund created by the SoftBank Group and a government agency in Saudi Arabia has kicked off with more than $93 billion of committed capital. The value of the fund dwarfs other tech fund investment rounds.

The new SoftBank Vision Fund intends to make investments in technology sectors that include the Internet of Things (IoT), artificial intelligence (AI), robotics, mobile applications, computing, communications infrastructure, computational biology, cloud software, Internet businesses, and financial technology.

The investments will be managed by a subsidiary of the SoftBank Group based in the United Kingdom.

SoftBank CEO Masayoshi Son has previously promised President Donald Trump that $50 billion of the funds will be invested into U.S. startups, reports the Wall Street Journal.

The Vision Fund was first announced by SoftBank in October 2016, when it said the Public Investment Fund of the Kingdom of Saudi Arabia would participate in the fund.

The SoftBank Group has committed up to $28 billion. About $8.2 billion of that contribution will come as an in-kind contribution of SoftBank’s shares in its subsidiary ARM Holdings.

Other investors in the fund include Apple, Qualcomm, the Mubadala Investment Company of the United Arab Emirates, Foxconn Technology Group, and Sharp.

The Fund will seek to acquire minority and majority interests in both private and public companies, from emerging technology businesses to established, multi-billion-dollar companies.

The Vision Fund, launching with $93 billion, compares to other tech fund rounds such as the Silver Lake Partners V round of $15 billion and Vista Equity Partners Fund VI with $11 billion. The sheer size of the Vision Fund could shape the future of technology innovation.