Piastri wins Spanish GP, Verstappen penalised
McLaren's Australian driver Oscar Piastri won the Spanish Grand Prix, marking his fifth victory of the 2025 Formula 1 season.
Foxconn predicts AI server revenue will surpass iPhone revenue within two years, possibly as soon as this year. As a key Nvidia supplier, Foxconn is capitalizing on booming AI demand, with AI servers set to make up over half of its total server revenue in 2024.
Taiwan’s Foxconn, the world’s largest contract electronics manufacturer and Apple’s primary iPhone supplier, anticipates that its server revenue will surpass its iPhone revenue within two years. According to Taiwan’s Central News Agency, Foxconn Chairman Young Liu suggested this shift could even occur as early as this year.
Foxconn plays a pivotal role in manufacturing Nvidia’s latest artificial intelligence servers, including the GB200 and GB300 series. Liu confirmed that while Foxconn does not produce all Nvidia systems, it handles the majority of them. Speaking on a live podcast at Nvidia’s GTC developer conference, Liu reaffirmed the company’s strong position in the AI server market.
In its recent earnings call, Foxconn projected its AI server revenue to reach T$1 trillion ($30.29 billion) in 2024, making up over half of its total server revenue. The company’s cloud and networking revenue is set to rival that of its smart consumer electronics division, which includes iPhones. In 2024, 30% of Foxconn’s revenue stemmed from cloud and networking products, while 46% came from smart consumer electronics. This shift underscores the growing demand for AI infrastructure worldwide.
On May 28, the inauguration ceremony of Lachin International Airport was held.
A car drove into crowds of Liverpool fans celebrating the club’s Premier League title in the city centre on Monday evening, injuring dozens including 4 children. A 53-year-old man believed to be the driver was arrested at the scene.
Taxi drivers across France are protesting government plans to cut payments for driving patients to medical appointments. These cuts are part of a broader effort by Prime Minister François Bayrou to save €40 billion in the 2026 budget and reduce the country’s large deficit.
EU ministers have greenlit a massive €150 billion defense investment fund—dubbed the Security Action for Europe (SAFE)—as the bloc ramps up its military readiness in response to Russia’s aggression and growing uncertainty over U.S. security guarantees.
Brazil’s economy is expected to have regained momentum in the first quarter of 2025, driven by a surge in household spending and private investment, according to a Reuters poll of economists conducted from May 21–26.
President Donald Trump announced that he will increase steel tariffs from 25% to 50%, a move that could push up costs for industries relying on steel, including housing and auto manufacturing.
U.S. stocks wrapped up the week with a mixed finish after President Donald Trump accused China of breaking a recent trade agreement, reigniting global market jitters just weeks after a deal was struck in Geneva.
Volkswagen is negotiating directly with the U.S. government to ease tariffs in exchange for deeper investment commitments.
Wall Street futures slipped as a surprise court ruling brought back most of Trump-era tariffs, shaking investor confidence heading into month-end.
Model Hailey Bieber is selling her skincare brand Rhode to e.l.f. Beauty in a deal worth up to $1 billion (£790 million), with plans for international expansion and continued viral success.
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