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Artificial Intelligence
SoftBank to Acquire Foxconn’s Ohio EV Plant for $500B Stargate AI Data Center Project
Written by: Abid Hussain Barlaskar
Updated 7:31 AM EDT, August 20, 2025
SoftBank Group is set to buy Foxconn Technology Group’s electric vehicle plant in Ohio as part of its push to launch the massive $500 billion Stargate AI infrastructure initiative, Bloomberg reported on August 8.
SoftBank, which has been working to finalize financing for the project, reportedly approached Foxconn to bring the Apple supplier on board, leading to the sale of the facility. The Ohio site may be converted into a data center, according to the report.
The Stargate project is projected to create over 100,000 U.S. jobs. SoftBank declined to comment, and Foxconn did not immediately respond to requests for comment.
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