Overview

• SoftBank finalized its purchase of Foxconn’s Ohio electric vehicle facility and will convert it into one of the first nodes in its $500 billion Stargate data center project
• The acquisition comes as SoftBank faced cost overruns and funding delays that threatened to stall its nationwide AI infrastructure rollout
• Stargate, backed by SoftBank, OpenAI and Oracle, is projected to create more than 100,000 U.S. jobs and has already broken ground on a campus in Abilene, Texas
• Repurposing the Ohio plant exemplifies a broader strategy to adapt existing industrial sites for high-performance computing rather than building new centers from scratch
• By leveraging Foxconn’s production capabilities, SoftBank aims to accelerate data center deployment to enhance America’s AI capacity and competitiveness