US EditionSoftBank Buys Foxconn's Ohio Plant to Advance Stargate AI Push, Bloomberg News Reports
UNITED STATES, AUG 7 – SoftBank's $500 billion Stargate project aims to build a global AI datacenter network despite site acquisition delays, with spending targets expected to be met within five years.
- Amid its Q1 earnings call, SoftBank acknowledged, `Yoshimitsu Goto, CFO of SoftBank, said the project is proceeding slower than usual` due to site and stakeholder issues.
- Analyzing the delays, Goto flagged complex site selection processes and stakeholder alignment issues as causes for the project’s slower progress.
- The Stargate project aims to build a global network of AI datacenters, and CFO Yoshimitsu Goto expects to spend around $500 billion on datacenter builds within five years.
- On Friday, SFTBY SFTBF shares surged 10.47% to JPY 13,875 , reflecting investor response after SoftBank's earnings call highlighting delays in the Stargate project.
- By 2025, Goto predicted half of all new server chips shipped to hyperscalers will use Arm’s architecture, supported by Arm’s $10 billion quarterly revenue, leveraging SoftBank’s ownership.
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SoftBank buys Foxconn's Ohio plant to advance Stargate AI push, Bloomberg News reports
SoftBank Group Corp is acquiring Foxconn Technology Group's electric vehicle plant in Ohio, in a bid to launch the Japanese company's Stargate data center project, Bloomberg News reported on Friday. U.S. President Donald Trump in January announced Stargate, a private sector investment of up to $500 billion fo
SoftBank Stock Surges 10% After Exec Teases $12 Billion OpenAI Windfall — But $500 Billion 'Stargate' AI Project Pitched To Trump Hits Snags - SoftBank Group (OTC:SFTBF), SoftBank Group (OTC:SFTBY)
SoftBank Group Corp. shares surged 10.47% on Friday following the company's first quarter of 2026 earnings call.
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The ambitious $500 billion Stargate AI infrastructure project is moving significantly slower than anticipated, with SoftBank Group CFO Yoshimitsu Goto publicly acknowledging the delays during the company’s Q1 2025 earnings call. “It’s taking a little longer than our initial timeline,” Goto said during the call, describing the project as proceeding “slower than usual.”
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