SoftBank acquires Foxconn's Ohio EV plant to advance Stargate AI data center initiative

SoftBank Group Corp is acquiring Foxconn Technology Group's electric vehicle manufacturing plant in Ohio as part of its broader strategy to advance the Stargate AI initiative, according to a report by Bloomberg News on Friday. The acquisition marks a pivotal step in SoftBank’s plan to build a massive network of AI-powered data centers, with the Ohio facility expected to serve as a key hub for the Stargate project. The move underscores SoftBank’s growing commitment to artificial intelligence infrastructure, aiming to position itself at the forefront of the global AI race. While specific financial details of the transaction were not disclosed, the deal highlights SoftBank’s shift from traditional telecom and investment ventures toward high-tech infrastructure development. The Stargate project, which remains under development, is envisioned as a next-generation data center ecosystem designed to support advanced AI workloads, including large language models and real-time machine learning applications. By repurposing Foxconn’s existing industrial facility, SoftBank aims to accelerate deployment and reduce construction timelines. The acquisition also reflects a broader trend of tech and telecom giants investing heavily in data center capacity to meet surging demand from AI companies. SoftBank’s CEO, Masayoshi Son, has long championed AI as a transformative force, and the Ohio project is seen as a critical component of his vision to make Japan a global AI leader. The company has previously invested billions in AI startups and infrastructure, including its Vision Fund, and this latest move signals a deepening focus on physical infrastructure to power the future of artificial intelligence.