Foxconn chairman says collaboration with SoftBank in Ohio is part of Stargate project

Foxconn Chairman Young Liu announced that the company's collaboration with SoftBank in Ohio is part of OpenAI's Stargate project, which aims to enhance U.S. artificial intelligence infrastructure. SoftBank has acquired the Lordstown site, and Foxconn will continue operations through a joint venture with SoftBank. The site sale, valued at $375 million, was previously disclosed without naming the buyer. The Stargate project is a collaboration between SoftBank, OpenAI, and Oracle, unveiled by U.S. President Donald Trump in January, with plans for up to $500 billion in investment. Preparations for the project began over six months ago, and the companies selected Ohio due to its strategic advantages in power availability, infrastructure, and urgency of timeline. ([reuters.com](https://www.reuters.com/business/media-telecom/foxconn-chairman-says-collaboration-with-softbank-ohio-is-part-stargate-project-2025-08-18/?utm_source=openai))