Nvidia partner Foxconn reports 26% revenue spike as AI boom continues

Foxconna key Nvidia The AI ​​development partner saw its revenue rise 26% year-on-year in November as demand for servers continued to rise amid the AI ​​boom.

The Taiwanese company, also known as Hon Hai, is the world’s largest contract electronics manufacturer and assembles chips as well as the servers that hold them in data centers. Apple’s iPhone.

Foxconn on Friday reported “strong year-over-year growth” for its cloud and networking products in its monthly earnings report, citing “acceleration for its AI server racks.” It reported revenue of NT$844.3 billion ($27 billion) for November.

Foxconn, a long-time partner of many of the world’s largest technology companies including Nvidia and Apple, has recently become a major player in the rollout of AI infrastructure.

In May, it was announced that the company would provide infrastructure for a large artificial intelligence factory in Taiwan in cooperation with Nvidia and the Taiwanese government. Two months later, Foxconn announced it would take a stake in the data center construction company TECO Electricity and Machinery Inc.

Last month, OpenAI announced that it would cooperate with the Taiwanese company on design studies and production preparation for the USA’s next generation artificial intelligence infrastructure hardware.

Foxconn’s monthly revenue fell around 6%, with the company’s smart consumer electronics segment pointing to a slight decline.

“AI server rack shipments continue to increase, and ICT products are in peak season in the second half of the year,” the monthly report’s business outlook for the fourth quarter said.

The company said in November that third-quarter profits rose 17% year over year, driven by growth in its AI server business.

Foxconn’s share price is up 26% since the start of 2025, following a 76% increase over the previous 12 months.