Foxconn has sold its Lordstown, Ohio, factory to SoftBank but will keep operating it as an AI server hub for the $500 billion Stargate project.

Shares in the chip maker rose following news of SoftBank’s planned investment and a possible stake for the U.S. government.

Foxconn said on Monday it plans to manufacture data centre equipment with Japan's SoftBank at the Taiwanese firm's former electric vehicle factory in Ohio, part of the Stargate project to advance U.S.

Hon Hai Precision Industry Co. will operate a US factory owned by SoftBank Group Corp., setting up what’s in the running to be the first manufacturing site in the Japanese company’s $500 billion Stargate venture with OpenAI and Oracle Corp.

Foxconn Technology (FXCOF) said it plans to make data center equipment with SoftBank at the Taiwan-based company's former electric vehicle factory in Ohio.

Foxconn and SoftBank partner to produce data center equipment at the former Ohio EV plant, advancing the $500B Stargate project to boost U.S. AI infrastructure.

Foxconn, in partnership with Japanese-owned SoftBank, will be building AI data center equipment within the former Lordstown GM Assembly plant. Reuters first reported the news on Monday. The work will be, as 21 News has previously reported, part of the Stargate project to build up to 16 artificial intelligence data centers across the US.

Foxconn's chairman, Young Liu, announced the company's cooperation with SoftBank in Ohio as part of OpenAI's Stargate project. In this collaboration, SoftBank will supply the venue and equipment necessary for the initiative.

Foxconn will manufacture data center-related equipment for the Stargate project at the former Ohio General Motors factory it sold to SoftBank earlier this month.

SoftBank and Foxconn have partnered to repurpose an Ohio facility to produce hardware destined for AI data centers as part of the Stargate Project.

Foxconn finally revealed the buyer for its Lordstown, Ohio facility: SoftBank. The facility, which was designed for electric vehicle manufacturing, will have a new role building data center equipment for Stargate, according to Reuters. The Stargate project is a partnership among OpenAI, Oracle, and SoftBank.