SoftBank (SFTBY.US) acquires Foxconn's electric vehicle factory in the US for $375 million to accelerate progress on the "Gateway to the Stars" project.

Zhitong Finance APP learned that SoftBank (SFTBY.US) has acquired Foxconn's electric car factory in Ohio, USA. This move is aimed at launching SoftBank's $500 billion "Stargate" data center project in cooperation with OpenAI and Oracle (ORCL.US). Informed sources said that SoftBank encountered difficulties in formulating the financing plan for the "Stargate" project and had contacted Foxconn, hoping that this Apple supplier could participate in its plan for a nationwide data center and supporting infrastructure. The sale of the electric car factory by Foxconn is the result of SoftBank's efforts to promote cooperation.