Apple supplier Jabil raises annual forecast as data center appetite remains strong

Electronics component maker Jabil raised full-year profit and revenue forecast on Tuesday, betting on strong infrastructure services demand for data centers.

Shares of the company rose about 5% in premarket trading, after it also surpassed Wall Street estimates for third-quarter results.

Companies rushing to adopt the artificial intelligence technology in their operations have pushed up the need for data centers, which can support vast amounts of computing and complex tasks.