Foxconn Reports 14% Q3 Profit Increase Driven by AI Demand

The world's largest contract electronics maker anticipates continued growth in AI server sales, boosting its financial outlook for 2024.

Foxconn's net profit for the July-September quarter rose to T$49.3 billion, surpassing analysts' expectations.
The company predicts AI servers will constitute 50% of its total server revenue next year.
Foxconn is constructing the world's largest facility in Mexico for Nvidia's GB200 superchips, vital for next-gen AI platforms.
October sales reached a record high, with expectations for year-on-year revenue growth in the fourth quarter.
Foxconn's shares have doubled in 2024, reflecting strong investor confidence in its AI-driven growth strategy.