Foxconn, a major Apple supplier, is gearing up for increased demand for AI servers, with expected triple-digit growth in the second half of this year. Foxconn chair Young Liu credits the surge to ChatGPT frenzy and reliance on advanced technology. While Foxconn manufactures many electronic products and components, it has a 40% global market share in the server business, with a revenue of $215 billion last year. Additionally, 20% of this server business is attributed to AI. This growth in the server industry is also experienced by other companies, such as Nvidia and Taiwan Semiconductor Manufacturing Company Ltd (TSM), due to increasing demand for AI systems. However, Foxconn expects its revenue to remain flat compared to last year, largely due to geopolitical tension and inflation.
Foxconn, also known as Hon Hai Precision Industry Co., is a multinational tech company based in Taiwan. The company is among the largest contract electronics manufacturers globally, with clients including Apple, Amazon, and Dell.
Young Liu is the chair of Foxconn and has held this position since 2020. Prior to this role, Liu was the head of Sharp Corporation, a subsidiary of Foxconn, where he led the company’s restructuring efforts to turn around its finances.
