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.
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The Philippines remains under a "severe threat" from China despite recent efforts by Washington and Beijing to ease tensions, Philippine Defence Secretary Gilberto Teodoro said on Saturday (30 May).
Russia has recalled its ambassador to Armenia for consultations, citing Yerevan's growing rapprochement with the European Union. The move is seen as the latest sign of deteriorating relations between the longtime allies ahead of Armenia's parliamentary election on 7 June.
Thai rescuers say five people have been pulled alive from a flooded cave in remote Laos, where seven villagers became trapped after heavy rain cut off access underground.
Start your day informed with the AnewZ Morning Brief. Here are the top stories for 30 May, covering the latest developments you need to know.
A group of Azerbaijani civil society organisations has called for increased scrutiny of Swiss building materials giant Holcim, citing court rulings and ongoing investigations linked to its subsidiary Lafarge's activities during the Syrian conflict.
The World Health Organization (WHO) says ongoing conflict, funding pressures and international travel restrictions are complicating efforts to contain a fast-growing Ebola outbreak in the Democratic Republic of Congo (DRC).
Thai rescuers say five people have been pulled alive from a flooded cave in remote Laos, where seven villagers became trapped after heavy rain cut off access underground.
Russia and Kazakhstan signed 15 agreements during President Vladimir Putin’s state visit to Astana on Thursday (28 May), including deals on Kazakhstan’s first nuclear power plant and expanded oil cooperation with Russia.
European companies are continuing to deepen their presence in China, with nearly seven in ten firms maintaining or expanding their supply chains despite global efforts to diversify, according to a new survey by the EU Chamber of Commerce.
BP has removed its chair, Albert Manifold, with immediate effect, citing concerns over governance and conduct. The company said its board had unanimously decided that Manifold should no longer serve as chair or director.
The dual-class share structure outlined in SpaceX’s initial public offering (IPO) filing, which gives chief executive Elon Musk outsized control, has reignited one of Wall Street’s longest-running debates over corporate governance.
Kevin Warsh will be sworn in as chair of the U.S. Federal Reserve on Friday as policymakers consider higher interest rates to tackle inflation linked to the Trump administration’s Iran policy.
A government-mediated agreement has suspended an 18-day walkout by about 48,000 Samsung union members, easing fears of damage to South Korea's economy and global chip supply.
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