SoftBank Shares Surge on AI Hope and Sign of Stargate Progress

SoftBank Shares Surge on AI Hope and Sign of Stargate Progress

SoftBank Group Corp.’s shares jumped as much as 8% on Tuesday on bets that the tech investor would be able to capitalize on its years-long focus on artificial intelligence.

SoftBank buys Foxconn Lordstown plant for Stargate AI servers

SoftBank has reportedly acquired Foxconn’s former General Motors factory in Lordstown, Ohio, for its Stargate artificial intelligence server production, as reported by Bloomberg News. This acquisition follows Foxconn’s late July announcement of the factory’s sale, including electric vehicle manufacturing equipment, to “Crescent Dune LLC,” a Delaware-established entity. Neither SoftBank nor Foxconn has publicly commented on the transaction. SoftB…