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 were primarily driven 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.
surged on Monday, with Taiwan Semiconductor Manufacturing Company (TSMC), the world's largest chipmaker, reaching a record high. The company's revenue growth was attributed to its cloud and networking products, which encompass AI servers, while computing products and smart consumer electronics, including iPhones and other smartphones, experienced 'slight declines,' Foxconn stated. In Asia, TSMC hit a record high on Monday, closing 1.9% higher in Taiwan. Other Asian chip companies also saw share price increases — South Korea's SK Hynix and Samsung rose nearly 10% and 4%, respectively. In Europe, ASML, a globally crucial semiconductor equipment firm, experienced a share price jump of almost 6%, while fellow Dutch chip company ASMI's stock rose nearly 5%. Germany's Infineon surged more than 6%. In the U.S., Nvidia received a boost from Foxconn's figures, climbing 2% in premarket trading. Microsoft is among several tech giants 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%