TAIPEI (TVBS News) — Foxconn's Chairman Liu Young-way announced Thursday (March 14) that the company has revised its business outlook from neutral to significant growth for this year due to the increase in generative Artificial Intelligence (AI) applications.
Liu argues that the company’s GPU module business will grow by over three digits in percentage during 2024 as the visibility of the AI server business has become very high, and AI server revenue will increase by over 40%.
He noted that this data reflects Foxconn's leading position in the AI server market.
Foxconn, primarily a cloud service provider (CSP), has seen a surge in orders, and its cloud network products are showing strong growth. As the biggest GPU module supplier, Foxconn has been actively developing its AI server business. Liu's trip to the U.S. for the Nvidia GTC conference will serve as a platform to showcase Foxconn's new collaboration model.
Moreover, in the electric vehicle business, more than 9,000 orders for Luxgen n7 (Model C) have been received, with revenue exceeding NT$10 billion after delivery is completed in the third quarter. Looking forward, Foxconn plans to market different versions of Model B electric vehicles in the U.S. and Southeast Asia from the end of 2025 to the beginning of 2026.
Liu, hinting at the company's recent 17.4% surge in stock prices, contended Foxconn should be likened to a group of foxes — quick and keen —, as the English name "FOXCONN," rather than a dancing elephant.
He said the company is dedicated to the spirit of shared prosperity, and this philosophy is reflected in its profits and recent stock performance.