Foxconn logs quarterly net profit jump on AI demand
Taiwanese tech hardware giant Foxconn on Thursday announced a 19% jump in quarterly net profit as the booming market for artificial intelligence servers drives growth, despite geopolitical uncertainty.
Foxconn, whose official name is Hon Hai Precision Industry, has gone beyond assembling low-margin iPhones to making AI servers for Nvidia, along with electric vehicles and robots.
Soaring global demand for generative AI tools is boosting business for Foxconn, even as the war in the Middle East has threatened supply chain volatility.
