SoftBank has reportedly acquired Foxconn’s former General Motors factory in Lordstown, Ohio, aiming to transform it into a facility for building AI servers for the ambitious Stargate AI project. Bloomberg News identified SoftBank as the buyer of the factory, which Foxconn recently sold to an entity named “Crescent Dune LLC.”
The Stargate project, a collaborative effort between SoftBank, OpenAI, and Oracle, was announced shortly after Donald Trump’s inauguration. It initially involves a large data center under construction in Texas, with plans for further infrastructure development in other states and countries. In May, Bloomberg reported that SoftBank faced challenges in securing funding for the project, which was also reportedly affected by Trump’s trade policies.
Foxconn originally purchased the factory in late 2021 from electric vehicle startup Lordstown Motors, with Chairman Young Liu expressing intentions to develop it into North America’s “most important electric vehicle manufacturing and R&D hub.” The sale was finalized in 2022, but Lordstown Motors filed for bankruptcy a year later. Other potential Foxconn customers, including Fisker Inc. and IndiEV, also ceased operations.
The implications for Monarch Tractor, a California-based startup developing electric and autonomous farm equipment, remain unclear. Monarch was Foxconn’s sole remaining customer at the Ohio factory. Neither Foxconn nor SoftBank have commented on the sale or its impact on Monarch Tractor.
