Foxconn, a key Nvidia partner, reported quarterly revenue that topped analyst expectations, adding fresh evidence that spending on artificial intelligence infrastructure remains strong. The company said revenue for the three months through September reached NT$3.03 trillion, or $95.4 billion, up 47% from a year earlier and above the analyst average estimate of NT$2.83 trillion. The result followed Micron Technology’s upbeat outlook last week, which also pointed to continued growth in AI-related capital expenditure. Foxconn has benefited over the past two years from global cloud infrastructure buildouts through its role assembling Nvidia servers. At the same time, debate over the pace of AI development has continued, with OpenAI CEO Sam Altman and Anthropic CEO Dario Amodei among executives who recently called for slowing the development of emerging AI technologies to keep them under human control. Investors are also watching Foxconn’s sales as a gauge of AI industry demand, even as concerns persist around overcapacity, rising debt levels and regulatory obstacles. Foxconn shares are up about 10% this year.
Foxconn, an Nvidia partner, reported better-than-expected quarterly revenue on Oct. 5, a sign that global spending on artificial intelligence infrastructure is still running at a high level.
Revenue for the three months through September came in at NT$3.03 trillion, or $95.4 billion, up 47% from a year earlier. That was above the analyst average estimate of NT$2.83 trillion.
The strong sales growth came after Micron Technology issued an upbeat earnings outlook last week, adding to signs that capital expenditure tied to AI is still expanding.
At the same time, executives including OpenAI CEO Sam Altman and Anthropic CEO Dario Amodei have recently called for a slower pace in the development of emerging AI technologies so they remain under human control.
As an assembler of Nvidia servers, Foxconn has benefited over the past two years from global cloud computing infrastructure construction. With investor concerns rising over overcapacity, higher debt levels and regulatory roadblocks, the company’s sales performance is also being watched as an indicator of conditions across the AI industry.
Foxconn shares are up about 10% so far this year.
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