SoftBank is said to invest at least $25 billion into the fund, to be used in large tech investments. The telecom giant has also been in talks with Saudi Arabia's Public Investment Fund (PIF) for an investment up to $45 billion.
The Journalreported nothing has been finalized between Apple and SoftBank, and status of the deal couldn't be learned. Apple's investment could give it insight into emerging technologies like artificial intelligence and Internet of Things.
Apple's recent earnings report revealed more than $237.6 billion cash and cash equivalents stashed around the world.
SoftBank and Apple couldn't immediately be reached for comment.
Trump met with SoftBank CEO Masayoshi Son in New York City earlier this month. There, the duo announced a plan for $50 billion investment in US tech startups, which they said would create 50,000 new jobs.