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Investing.com -- Hon Hai Precision Industry Co. will operate a US factory owned by SoftBank Group Corp., positioning it as a potential first manufacturing site for the $500 billion Stargate venture between SoftBank, OpenAI and Oracle Corp.
SoftBank is acquiring Hon Hai’s electric-vehicle plant in Ohio, but the Taiwanese company will continue to manage the facility after converting it into an AI server production plant, Hon Hai Chairman Young Liu confirmed.
Under the arrangement, SoftBank will provide manufacturing equipment to the factory.
Additionally, a joint venture formed between the two companies will produce AI data center-related equipment at the site, according to Liu.
The Ohio facility transformation represents a significant step in the development of the Stargate initiative, a massive $500 billion venture that brings together SoftBank with AI leader OpenAI and technology giant Oracle.
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