Foxconn revenue jumps on ai demand
Foxconn reported a 47% year-over-year increase in third-quarter revenue to NT$3.03 trillion ($95.39 billion), driven by strong AI-server demand. The result was well above the NT$2.83 trillion LSEG SmartEstimate.
Foxconn, the largest AI-server manufacturer for Nvidia, also posted a 38.4% year-over-year increase in September revenue to NT$1.16 trillion, marking the first time its monthly sales exceeded NT$1 trillion. The company expects its AI-related operations to continue growing in the fourth quarter.
The figures provide another strong demand signal for AI infrastructure spending, while Nvidia shares rose 2.1% to a record $238.90 on Monday. Strong server demand is supportive for Nvidia and the broader AI semiconductor supply chain, although elevated US Treasury yields remain a valuation risk for technology stocks.
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