AI News Bureau

SoftBank to Acquire Foxconn’s Ohio EV Plant for $500B Stargate AI Data Center Project

avatar

Written by: Abid Hussain Barlaskar

Updated 11:31 AM UTC, Wed August 20, 2025

post detail image

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.

Related Stories

September 10, 2025  |  In Person

Chicago Leadership Summit

Crowne Plaza Chicago West Loop

Similar Topics
AI News Bureau
Data Management
Diversity
Testimonials
background image
Community Network

Join Our Community

starStay updated on the latest trends

starGain inspiration from like-minded peers

starBuild lasting connections with global leaders

logo
Social media icon
Social media icon
Social media icon
Social media icon
About