Foxconn Q1 Net Income Rises 19% to NT$49.9B on AI Server Demand

According to Bloomberg, Hon Hai Precision Industry, also known as Foxconn, reported first-quarter net income rose 19% year-on-year to NT$49.9 billion (US$1.6 billion), driven by sustained AI server demand. Quarterly sales jumped 30% to approximately NT$2.1 trillion (US$66.6 billion).

The company expects substantial sales growth this year as AI demand continues. CEO Michael Chiang said the U.S. will become Hon Hai's largest AI server production hub, given that most cloud customers are located there. Foxconn also flagged supply chain risks from the Middle East situation and rising memory chip prices.