SoftBank revealed as buyer of Foxconn’s Lordstown plant in $375 million deal for AI server and data center pivot—reports
Photo: Lordstown Motors
The mystery buyer of Foxconn’s massive Lordstown facility has been revealed: Japanese tech investment giant SoftBank. Bloomberg reports that SoftBank purchased the plant and its equipment for $375 million as part of a deal that will see Foxconn continue to operate at the site, converting it into a hub for AI server and cloud computing hardware production.
The deal is tied to SoftBank’s push to bring Foxconn into its $500 billion “Stargate” data center initiative — a massive infrastructure project being developed alongside OpenAI, Oracle, and Abu Dhabi’s MGX.
Why it matters
The 6.2 million-square-foot Youngstown-area facility — six times larger than Foxconn’s new Houston plant for Nvidia AI servers — strengthens Ohio’s positioning in the surging U.S. market for AI-ready data centers. McKinsey projects more than $5 trillion in global data center investment by 2030, much of it in the U.S. SoftBank, with its deep AI and data infrastructure portfolio, adds a significant new player to Ohio’s tech ecosystem.
The details
Foxconn acquired the Lordstown plant from bankrupt Lordstown Motors in 2022 for $230 million, initially with plans to build EVs.
The facility will now focus on cloud, networking, and AI data center products — areas Foxconn says are experiencing “significant growth.”
Foxconn manufactures data center products for Nvidia and assembles iPhones for Apple.
SoftBank’s purchase brings fresh capital and potentially new partnerships in AI infrastructure, given the company’s track record of large-scale technology investments.
Bigger picture
Once a General Motors small-car factory, the Lordstown site has now undergone three major industrial reinventions — from GM to EV startup, and now to AI infrastructure hub. The move reflects both Foxconn’s and SoftBank’s pivot toward AI hardware, aligning with broader national priorities around domestic AI manufacturing and supply chain resilience.
What’s next
Ohio is in the midst of a surge in AI-related investment, emerging as one of the fastest-growing U.S. hubs for data center construction. Hyperscale cloud providers, major AI infrastructure projects, and now SoftBank’s entrance are cementing the state’s role as a leading center for AI innovation and deployment.