SoftBank acquires Foxconn’s Ohio EV plant for Stargate data center project - report
Investing.com -- SoftBank Group Corp (TYO:9984) is buying Foxconn (SS:601138) Technology Group’s (TPE:2317) electric vehicle plant in Ohio to advance its Stargate data center initiative, according to a Bloomberg News report on Friday.
According to the report, which cited people familiar with the matter, the Ohio site may be repurposed to host a data center as part of the Stargate initiative.
The acquisition comes after U.S. President Donald Trump announced the Stargate project in January, a private sector investment of up to $500 billion for AI infrastructure.
The project is backed by SoftBank, OpenAI and Oracle (NYSE:ORCL).
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