Foxconn Reports Record Q3 Revenue on Surge in AI Infrastructure Demand

Foxconn, a major electronics manufacturer and key server supplier for NVIDIA, reported an 11% increase in third-quarter revenue to approximately $67.7 billion, driven largely by strong demand for artificial intelligence (AI) infrastructure and server products. Despite missing some market forecasts, the company experienced a 16.1% revenue growth on a U.S. dollar basis, supported by a robust AI cloud and networking division, although sales of smart consumer electronics like iPhones saw a slight decline due to exchange rate fluctuations. September marked a record month with a 14.2% year-over-year revenue increase, and Foxconn expects continued sequential growth into the fourth quarter, supported by AI server shipments and the upcoming holiday season. The company remains cautious about the impact of global political and economic conditions and currency volatility on future performance. Foxconn shares have risen 23% this year, outperforming the broader Taiwan market. The firm plans to release its detailed third-quarter earnings report in November and continues to capitalize on AI demand while monitoring risks.