SoftBank pays $375M for Foxconn’s 6.2M-SF Ohio manufacturing plant to boost Stargate AI push

  • 8/8/2025

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Yahoo! Finance
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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.

Earlier this week, Hon Hai Precision Industry Co., the flagship unit of Foxconn, said it had agreed to sell the EV plant to Crescent Dune LLC for $375 million without identifying the company behind the entity. SoftBank is Foxconn’s counterparty in the transaction, the people said.

SoftBank Group Corp
Tianchang (Jack) Liu | VP, Investments

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