US EditionAI demand boosts iPhone maker Foxconn’s second-quarter profit by 27%, beating forecasts
Foxconn's AI server revenue surpassed smart consumer electronics for the first time, driving a 27% profit increase and forecasting over 170% growth in AI server sales next quarter.
- On Thursday, Taiwan's Foxconn reported that its second-quarter operating profit rose 27% on growth in its AI server business.
- Amid expanding AI demand, Foxconn manufactures server racks for AI workloads and partners with Nvidia, with AI server revenue surpassing smart consumer electronics in Q2.
- In its earnings report, Foxconn forecasted AI server revenue would grow more than 170% year over year and expects significant third-quarter growth.
- In the U.S., Foxconn will boost server capacity at sites in Texas and Wisconsin as capital spending to rise more than 20% this year.
- Facing geopolitical risks, Foxconn moved most U.S.-destined iPhone production to India after Washington and Beijing extended a 90 day tariff truce.
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Hon Hai forecasts AI server sales growth to top 170% in Q3 - Focus Taiwan
Taipei, Aug. 14 (CNA) Hon Hai Precision Industry Co., the world's largest contract electronics maker, has expected sales generated from artificial intelligence servers will grow more than 170 percent from a year earlier in the third quarter of this year, while reiterating AI server revenue is expected to top NT$1 trillion (US$33.35 billion) in 2025.
·Taiwan
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Foxconn sees robust AI demand continuing after Q2 profit tops forecast
Foxconn expects higher third-quarter revenue, it said on Thursday, on robust demand for artificial intelligence servers, which helped the world's largest contract electronics maker report a forecast-beating 27% increase in second-quarter profit.
·United Kingdom
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Total News Sources11
Leaning Left1Leaning Right1Center5Last UpdatedBias Distribution71% Center
Bias Distribution
- 71% of the sources are Center
71% Center
14%
C 71%
14%
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