Foxconn, Nvidia's major server maker, reported a 52% revenue rise in August, driven by strong AI-related demand.
Hon Hai Precision Industry Co., also known as Foxconn, said its August revenue amounted to NT$921.8 billion ($29.2 billion), up 51.98% year on year, according to its unaudited report released Saturday. The growth extended the company's July momentum, when its revenue rose 54.19% year on year.
The cumulative revenue for the first eight months of this year reached NT$6.5 trillion ($205.3 billion), up 39.73% year on year.
Notably, Foxconn said its cloud and networking business segment saw significant growth driven by "strong pull-in momentum for AI products."
The company forecasts that its third-quarter overall performance will outperform market expectations, as "AI demand continues to grow" and information and communication technology products are entering a peak season in the second half of the year.
"Currently, the company's visibility for the third quarter has improved compared to the previous month, with overall performance expected to outperform market expectations," Foxconn said, adding that it remained necessary to "monitor the impact of the volatile global political and economic situation."
Hon Hai's Taiwan-listed stock closed flat on Monday at NT$256 ($8).