SoftBank Group Corp. said it’s taking longer than anticipated to get Stargate off the ground, conceding for the first time that the $500 billion artificial intelligence tie-up in the US with OpenAI is bogging down.

Earlier this week, Hon Hai Precision Industry, the flagship unit of Foxconn, said it agreed to sell the EV plant to Crescent Dune LLC for $375M without disclosing the company behind the entity. SoftBank is Foxconn’s counterparty in the transaction, the report noted.

SoftBank Group (SFTBY) just admitted its $500 Billion Stargate AI tie-up with OpenAI is moving at a glacial pace.On the earnings call, CFO Yoshimitsu Goto owned up to the holdup: more than six months after the January launch,