Taiwan's Foxconn said on Monday it had struck a deal to sell a former car factory at Lordstown, Ohio, for $375 million, including its machinery, but said it would continue to use the site to make a broader range of products aligned with its strategic priorities.

News outlet Bloomberg has reported that SoftBank Group Corp. is the entity behind the acquisition of Foxconn’s Lordstown manufacturing plant. The purchase is intended to help launch the Japanese investment firm’s $500 billion Stargate data center project with partners OpenAI and Oracle Corp.