Home / Business and Economy / SoftBank Acquires Foxconn's Ohio EV Plant for Stargate Data Center Project
SoftBank Acquires Foxconn's Ohio EV Plant for Stargate Data Center Project
8 Aug
Summary
- SoftBank acquiring Foxconn's electric vehicle plant in Ohio
- Part of SoftBank's Stargate data center project
- Stargate is a $500 billion AI infrastructure initiative
In a significant move, SoftBank Group Corp. is acquiring Foxconn Technology Group's electric vehicle plant in Ohio. This acquisition is part of SoftBank's efforts to launch its Stargate data center project, a major initiative aimed at building AI infrastructure across the United States.
The Stargate project was first announced by U.S. President Donald Trump in January 2025. It is a private sector investment of up to $500 billion, funded by SoftBank, OpenAI, and Oracle, to develop a nationwide network of data centers and related infrastructure to support AI and other advanced technologies.
SoftBank, which has struggled to create a financial plan for Stargate, approached Foxconn to get the Apple supplier on board with its plans. This led to the sale of Foxconn's Ohio plant, which may now be used to host a data center as part of the Stargate project.
The acquisition of the Ohio plant is seen as a significant step forward for SoftBank's Stargate initiative, which is expected to create more than 100,000 jobs in the U.S. as it continues to expand its AI infrastructure across the country.
