A new partner to Foxconn's AI venture in Lordstown, Japanese investment firm SoftBank, has also announced a $2 billion investment in semiconductor giant Intel. The announcement comes as Ohio lawmakers ramp up pressure on Intel for delays in its planned multi-billion-dollar plant in the state.

The investment is a show of confidence in Intel, which has pushed back the completion date for its Ohio chip plants from 2025 to as late as 2032. The delay has drawn bipartisan concern from Ohio lawmakers who fear the state will not see a return on its investments and have threatened to claw back funds.

State Reps. Sean Patrick Brennan, D-Parma, and Beryl Brown Piccolantonio, D-Gahanna, are proposing a House resolution that calls for quarterly public updates and a full financial accounting of Intel's "Ohio One" project. The resolution states that the project, once touted as a $28 billion investment and a beacon for U.S. chip manufacturing, is now one of the slowest-moving in the nation, according to a news release from the lawmakers.

In 2022, the state of Ohio provided a $2 billion public incentive package in return for Intel's promise of 3,000 new jobs and a 2025 opening. However, more than three years later, the project has been delayed into the next decade as Intel faces corporate struggles, including a 15% global workforce reduction and canceled European projects.

"Intel's plans for Ohio have gone from high-tech hope to high-stakes uncertainty," Brennan said. "Our state made the largest financial commitment in its history to bring this project here. It's only right that the people of Ohio know where their money is going—and what their return on investment will be."

The resolution urges the Governor’s Office, the Department of Development, and JobsOhio to release quarterly updates beginning this fall. These updates would include construction progress, financial disclosures, and any strategic changes Intel may be considering.

In a joint statement, SoftBank and Intel said the $2 billion investment would be in Intel common stock. Masayoshi Son, chairman and CEO of SoftBank, said the investment reflects the company's belief that "advanced semiconductor manufacturing and supply will further expand in the United States, with Intel playing a critical role."

The joint venture between Foxconn and SoftBank for AI equipment manufacturing is part of the Stargate Project, a $500 billion, four-year initiative to bolster U.S. AI infrastructure, and is separate from SoftBank’s investment in Intel.

However, the confluence of these two announcements highlights Ohio's emerging role as a key hub for technology investment and manufacturing. It also places SoftBank in the unique position of being a primary investor in two of the state's most high-profile tech projects.