Foxconn plans to manufacture data center equipment with Softbank at the company’s former EV factory in Ohio, Wen-Yee Lee of Reuters reports. Softbank has purchased the Lordstown site and Foxconn plans to continue operating there through a venture the two companies will create. The factory will be used as part of the Stargate project to advance U.S. AI infrastructure.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SFTBY:
- SoftBank buys Foxconn’s Ohio plant to build AI hardware as Part of $500 billion Stargate project
- Klook hires investment banks to arrange IPO in U.S., Reuters reports
- OpenAI Employees Plan $6 Billion Share Sale at $500 Billion Valuation
- OpenAI employees to sell $6B of shares to SoftBank, others, Bloomberg says
- SoftBank Plans PayPay’s U.S. IPO After Blockbuster Results
