Foxconn reports strong Q3 profit driven by AI server boom, teases OpenAI announcement

Taiwanese technology giant Foxconn, formally known as Hon Hai Precision Industry, on Wednesday reported a forecast-beating 17% rise in third quarter net profit. The significant growth was largely attributed to surging global investment in artificial intelligence (AI) and the resulting expansion of the company’s crucial server business.

Net profit for the July-September period reached NT$57.67 billion (approximately $1.9 billion).