Record quarterly revenue at contract manufacturing giant suggests strong demand for hardware of all sorts Foxconn has singled out AI servers as a reason for its record revenue, and its suppliers’ share prices surged on the news.

Foxconn had earlier partnered with NVIDIA to leverage its EV ambitions and proposed building Taiwan’s fastest AI supercomputer with NVIDIA’s flagship Blackwell.

The S&P 500 added 0.6% on Monday, Jan. 6, led by a surge in semiconductor stocks as the first full week of the new year got underway.

AI-related chip stocks sold off a bit during the last couple of weeks of 2024, but they got a lift Friday on signs of strong AI chip demand. On Monday morning, Hon Hai Precision (OTC: HNHPF), also known as Foxconn,

Foxconn's fourth quarter 2024 revenue surged 15.17%, setting a record for the highest revenue ever, driven by strong demand in AI.

The Taiwan-listed assembler of Apple and Nvidia products posted record revenue for the fourth quarter, helped by robust demand for servers to power burgeoning artificial intelligence technologies.

Strong demand for AI servers set Taiwan’s Foxconn to a record fourth-quarter revenue. In a statement, the company said its revenue rose 15.2% to T$2.13

Global semiconductor stocks climbed on Monday after Foxconn posted record fourth-quarter revenue, suggesting the AI boom has far more room to run.

Semiconductor stocks jumped on Monday, lifted by buoyant news regarding the artificial intelligence sector. The S&P and Nasdaq posted two straight days of gains.

Chip stocks rose sharply on Monday, partly due to a solid earnings report from Foxconn, which pointed to continued AI demand.

Foxconn reported a record revenue of NT$654.825 billion (approx. US$19.91 billion) in December 2024, thanks to the initial shipments of GB200-related products. This boost contributed to a total annual revenue of NT$6.