SoftBank Buys Foxconn’s Ohio Plant to Boost Stargate AI Push

SoftBank Group Corp. is the buyer taking ownership of Foxconn Technology Group’s electric vehicle plant in Ohio, a move aimed at kick-starting the Japanese company’s $500 billion Stargate data center project with OpenAI and Oracle Corp.

SoftBank, which has yet to create a financial blueprint for Stargate, had approached Foxconn to get the Apple Inc. supplier on board with its plan to build AI data centers and related infrastructure throughout the US, people familiar with the matter said. The EV plant sale is a result of those efforts by the Japanese investor, they said, asking not to be named as the discussions remain private.