CosmicTaco

Hon Hai's Profit Surges on AI Server Demand, Beats Estimates

CosmicTaco · 2024-11-14T13:32:31.251361+05:30

* Hon Hai, also known as Foxconn, reported a stronger-than-expected quarterly profit due to persistent demand for AI servers. * The company expects AI server sales to constitute 50% of its total server business by 2025. * However, concerns arise as Hon Hai's October revenue growth slows, indicating potential moderation in data center buildout spending. Source: [Bloomberg](https://www.bloomberg.com/news/articles/2024-11-14/iphone-maker-hon-hai-s-profit-beats-estimates-on-ai-demand)

Hon Hai, also known as Foxconn, reported a stronger-than-expected quarterly profit due to persistent demand for AI servers.
The company expects AI server sales to constitute 50% of its total server business by 2025.
However, concerns arise as Hon Hai's October revenue growth slows, indicating potential moderation in data center buildout spending.

Source: Bloomberg