Newsletter Subscribe
Enter your email address below and subscribe to our newsletter
[forminator_form id="25163"]
All voices matter
Foxconn posts record July revenue as AI demand surges
- Foxconn reported July revenue of NT$946.5 billion, a record driven by its AI server and cloud networking division, according to Reuters.
reuters - The Apple and Nvidia supplier cited "strong pull-in momentum for AI products" and expects AI rack shipments to sustain growth in Q3.
money.usnews - Separately, SpaceX named Nvidia its exclusive AI chip supplier, pressuring AMD shares in premarket trading.
stocktwits
Foxconn Hon Hai Precision Industry Co., Ltd. reported record single-month revenue in July, surpassing the T$900 billion threshold for the first time as demand for artificial intelligence infrastructure continued to accelerate. The Taiwanese contract manufacturer said Wednesday that July sales rose 54.2% year-over-year to NT$946.5 billion ($27.93 billion), driven by its cloud and networking products division, which includes AI servers.reuters+1
The company, formally known as Hon Hai Precision Industry, benefited from what it described as "strong pull-in momentum for AI products," according to a Reuters report. Its smart consumer electronics division, which includes smartphones, also posted strong growth.money.usnews
Q3 Outlook
Foxconn said it expects AI rack shipments to maintain growth in the current quarter, with operations set to "gradually gain momentum as ICT products enter peak season." The company projected both quarter-on-quarter and year-on-year growth in the third quarter, though it cautioned that it remained "necessary to monitor the impact of the volatile global political and economic situation."money.usnews
Analysts had on average been looking for a 31.2% increase in sales for the three-month period ending in September, according to Stocktwits. Foxconn does not provide numerical forecasts and is due to report full second-quarter earnings on August 12.stocktwits+1
AI Infrastructure Tailwinds
The record results underscore Foxconn's transformation from a company historically reliant on Apple iPhone assembly cycles into a central node in the global AI supply chain. As the primary assembler of Nvidia AI server racks, Foxconn has capitalized on massive capital expenditure budgets from hyperscalers building out data center capacity.streamlinefeed
The revenue announcement came alongside news that SpaceX selected Nvidia as its exclusive AI chip supplier going forward, with CEO Elon Musk citing the Vera Rubin architecture as "the best AI computer." Shares of AMD Advanced Micro Devices, Inc. , SpaceX's current chip supplier, fell in premarket trading on the announcement.stocktwits
Foxconn's shares closed up 3.4% before the revenue data was released, outperforming the broader market's 2.9% gain on Wednesday.money.usnews
Sources (10)
- 1 Foxconn's monthly revenue hits record in July on AI demand www.reuters.com
- 2 AI Demand Pushes Foxconn's Monthly Revenue to Record in July money.usnews.com
- 3 NVDA Stock Bucks Selloff Premarket On SpaceX Boost, Foxconn’s Sales Update stocktwits.com
- 4 Nvidia Supplier Hon Hai Posts 54 Percent Sales Surge on Insatiable AI Server Demand streamlinefeed.co.ke
- 5 Foxconn July revenue surges 54% on AI demand; eyes strong Q3 on peak tech season (FXCOF:OTCMKTS) seekingalpha.com
- 6 Foxconn Surpasses T$900 Billion In Monthly Sales As AI Boom Fuels Record Growth www.arise.tv
- 7 Foxconn's monthly revenue hits record in July on AI demand finance.yahoo.com
- 8 Foxconn's monthly revenue hits record in July on AI demand www.marketscreener.com
- 9 Foxconn's monthly revenue hits record in July on AI demand - The Economic Times economictimes.indiatimes.com
- 10 Taiwan’s Foxconn posts record single-month revenue www.taiwannews.com.tw
