Foxconn posts quarterly profit surge on AI server demand / Photo: I-Hwa Cheng - AFP/File
-
Unbeaten 49ers edge Seahawks while Vikings stay perfect
-
Policymakers take on energy shock, rising debt at IMF-World Bank meetings
-
Trump's 'energy ceasefire' sparks confusion as Russia strikes Ukraine
-
Raphael Glucksmann elected centre-left French presidential candidate
-
Dupont double helps Toulouse avoid Bayonne slip-up in Top 14
-
'Dizzy' Lazio join Inter at top of Serie A as Roma, Juve and Milan held
-
Marseille snap losing skid with win at Troyes
-
Jaguars edge Eagles as Packers beat Bears
-
Lula stages mass rally ahead of Brazil's presidential run-off
-
Rays chase first MLB crown as Guardians try to snap drought
-
Poland holds suspect in alleged assassination plot against PM Tusk
-
Hurricane Simon churns off Mexican coast after shift in course
-
Russia hits Ukraine power plants despite Trump energy ceasefire claim
-
'Dizzy' Lazio join Inter at top of Serie A as Roma and AC Milan held
-
Isco's Betis rise back above Real Madrid to third
-
Man City must make 'own noise' amid financial scandal, says Maresca
-
Haaland vows troubled Man City will 'stick together' after beating Liverpool
-
Jaguars down Eagles with wild field goal finish in London
-
Abhishek, Arshdeep guide India to T20 win over West Indies
-
Sadaqat, Imran help Pakistan thump Sri Lanka to seal T20 series
-
'Other Mommy' scares up N. American box office win
-
Man City shrug off uncertain future to beat 10-man Liverpool
-
Zelensky surprised, Moscow mum as Trump announces energy ceasefire
-
Conservation groups alarmed at marine mammals' deaths in Spain
-
Ready Player 1: Paris to host 2027 edition of EVO combat video games event
-
Tens of thousands urge climate action at Brussels demo
-
Bill Gates warns cyberattacks most imminent AI threat
-
Norway's Hagenes wins historic Paris-Tours classic
-
Lazio join Inter at top of Serie A as Roma held at Como
-
Kipruto claims Chicago Marathon as Feysa defends women's title
-
Trump says Russia and Ukraine agree to 'energy ceasefire'
-
Forest boss Glasner loses on return to Palace, Hull hold Everton
-
Man City branded 'cheats' in hostile Liverpool reception after guilty verdict
-
'Sorry boys': Hamilton takes blame for botched tyre call
-
Smith breaks fielding record as Australia take control of 1st Test
-
Resurgent Verstappen wins Singapore Grand Prix for first time
-
Smith breaks fielding record as Australia take first innings lead
-
Verstappen wins Singapore Grand Prix for first time
-
Saints win south coast derby after Eckert's suspended 'Spygate' ban
-
Djibouti boat wreck leaves 139 migrants dead, 84 missing: UN
-
Zheng beats Andreeva to become first home player to win China Open
-
Drone hits Russia's Yandex in third reported attack
-
Young pretender Seixas threatens to rule cycling after sensational year
-
Shelton dumped out in Shanghai but Zverev ploughs on
-
Serie A stalemate as Roma held by Como
-
Top seed Zverev digs deep to reach Shanghai last 16
-
Prince Harry, Meghan to carry out first joint engagement since UK return: reports
-
Pope to be operated on for lump on lung
-
Last Ceuta migrant camp removed ahead of Spanish king's visit
-
India's 'cockroach' leaders vow to keep up election protests
Foxconn posts quarterly profit surge on AI server demand
Taiwanese tech hardware titan Foxconn reported on Wednesday a forecast-busting second quarter net profit, as exploding demand for artificial intelligence servers needed in data centres powered the company's growth.
Foxconn, whose official name is Hon Hai Precision Industry, has gone beyond assembling low-margin iPhones to making AI servers for US tech giant Nvidia, along with electric vehicles and robots.
The company said net profit for April-June reached NT$59.97 billion ($1.86 billion), up 35 percent from the previous year.
The result beat estimates of NT$58.38 billion in a Bloomberg survey of analysts.
Revenue for the three months hit NT$2.53 trillion, up 41 percent from a year ago.
"AI infrastructure is driving growth," Foxconn said in its earnings announcement.
The company forecast "strong YoY growth" in the current quarter and "a strong full-year outlook".
Governments and tech giants are pouring huge sums into building data centres that can train and run AI tools such as chatbots, image generators and agents that can execute tasks.
This has turbocharged business for Foxconn, which makes the servers used in the data centres.
N.Mitchell--AT