Foxconn announced on Wednesday a 17% increase in net profit in the third quarter, driven by the rapid expansion of its artificial intelligence dedicated server division.

Foxconn, officially known as Hon Hai Precision Industry, reported a 17% increase in net profit in the third quarter, reaching 57.67 billion new Taiwan dollars (approximately 1.85 billion USD), exceeding analysts' estimates. The company's revenues reached 2.06 trillion NT$ (66.3 billion USD), in line with expectations. This growth was particularly supported by the artificial intelligence server division, which Foxconn is developing in strategic partnerships with Nvidia. The company is diversifying its portfolio, focusing on areas with higher margins, such as cloud infrastructure.

Foxconn expects the fourth quarter to continue the same growth trend, but has warned that geopolitical uncertainties and currency fluctuations could impact future financial performance. Analyst Ivan Lam highlighted that the 'Cloud and Networking' division recorded significant growth, confirming the strategy to focus on expanding segments such as AI. Additionally, Foxconn collaborates with Nvidia, Stellantis, and Uber for the development of autonomous vehicles and has signed a memorandum with Mitsubishi Electric for energy-efficient AI data center solutions.