Foxconn said it expected robust demand for artificial intelligence servers to continue to boost growth into the fourth quarter
supplier Foxconn on Wednesday surpassed expectations with a 6 per cent rise in quarterly net profit, driven by a boom in demand for AI servers, and stood by its forecast for full-year revenue to grow significantly.
Foxconn said the development schedule for AI semiconductor leader Nvidia’s GB200 chip was on track, adding product delivery will start in the fourth quarter in small volumes, which would rise in early 2025. Wu emphasized Foxconn’s leading position in the AI server market, which he said accounted for than 40 per cent of the global market share, adding its capacity and technology would not be easily challenged by competitors.The Taiwanese company said net profit for the April-June quarter rose to T$35.05-billion from T$33-billion in the same period the previous year.It was the fourth consecutive quarterly profit rise for the company.
The company also wants to replicate the success it has had with manufacturing iPhones with the electric vehicles business. It said on the call that ongoing talks with two traditional car makers in Japan would be finalized this year.On the full-year outlook for its smartphone business, Foxconn said it remained “flattish” due to a higher base in the first half of last year, adding that the outlook for the second half of this year is better than the corresponding period in 2023.
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