Hon Hai Precision Industry, known internationally as Foxconn, reported revenue of 2.1 trillion New Taiwan dollars ($63.9 billion) in the fourth quarter of 2024, a 15% increase year-over-year. Foxconn's strong sales performance was mainly fueled by growth in cloud and networking products, including AI servers similar to those designed by chipmaker Nvidia. Shares of several semiconductor companies across Asia, Europe, and the U.S.
rose on Monday, with Taiwan Semiconductor Manufacturing Company (TSMC), the world's largest chipmaker, reaching a record high. The company's impressive revenue growth was driven by its cloud and networking products, encompassing AI servers, while computing products and smart consumer electronics, including iPhones and other smartphones, experienced 'slight declines,' according to Foxconn. In Asia, TSMC hit a record high on Monday, closing 1.9% higher in Taiwan. Other Asian chip firms also saw share price increases — South Korea's SK Hynix and Samsung rose almost 10% and 4%, respectively. In Europe, ASML, a globally critical semiconductor equipment firm, witnessed its shares jump almost 6%, while ASMI, another Dutch chip company, saw its stock rise almost 5%. Germany's Infineon surged more than 6%. In the U.S., Nvidia benefited from Foxconn's figures, climbing 2% in premarket trading. Microsoft, among several tech giants, is investing heavily in GPUs (graphics processing units) from Nvidia to train and operate the most advanced AI models. AMD, Nvidia's closest competitor, rose 3% in premarket trading Monday, while fellow U.S. chip firms Qualcomm and Broadcom both climbed almost 2%