Shares in the chip maker rose following news of SoftBank’s planned investment and a possible stake for the U.S. government.

Launched in January, the Stargate joint venture unites OpenAI, SoftBank, and Oracle to accelerate AI infrastructure investment in the US.

SoftBank announced on Tuesday a $2 billion investment in Intel that will add to the Japanese tech investor's ambitious bet on artificial intelligence and the chip industry.

Foxconn, in partnership with Japanese-owned SoftBank, will be building AI data center equipment within the former Lordstown GM Assembly plant. Reuters first reported the news on Monday. The work will be, as 21 News has previously reported, part of the Stargate project to build up to 16 artificial intelligence data centers across the US.

SoftBank Group Corp. is the buyer taking ownership of Foxconn Technology Group’s electric vehicle plant in Ohio, a move aimed at kick-starting the Japanese company’s $500 billion Stargate data center project with OpenAI and Oracle Corp.

Hon Hai Precision Industry Co. will operate a factory in Lordstown owned by SoftBank Group Corp., setting up what’s in the running to be the first manufacturing site in the Japanese company’s $500 billion Stargate venture with OpenAI and Oracle Corp.

SoftBank will supply manufacturing gear to the factory, and a joint venture between the two companies will make AI data center-related equipment.