Officially known as Hon Hai Precision Industry, Foxconn is the world's largest contract electronics manufacturer. It assembles devices for major tech companies, including Apple's iPhones.

Foxconn's net profit for the three months to September reached US$1.5 billion (NT$49.3 billion), marking a 14 per cent increase from a year ago and surpassing the US$1.4 billion (NT$45.9 billion) expected by analysts.

Revenues for the July-September period rose by 20 per cent year-on-year to US$60.7 billion (NT$1.9 trillion).

This impressive performance represents Foxconn's fifth consecutive quarter of profit growth, driven by soaring demand for generative AI technologies such as ChatGPT. The company previously reported that its revenue from AI servers more than doubled in the first half of this year compared to last year's period.

Foxconn has invested heavily in securing a foothold in the AI technology market. In documents released ahead of an earnings call, the company indicated it expects "rapid growth" in its AI server business in 2025.

Last month, Foxconn announced it was constructing the world's largest production plant in Mexico to assemble Nvidia's GB200 "superchips," which power AI servers.

Most of Foxconn's operations are based in China, the largest private-sector employer with over a million workers. However, the company seeks to diversify its manufacturing supply chain following disruptions caused by COVID-19 policies, industrial unrest, and diplomatic tensions with the US.

Foxconn's push to diversify beyond electronics assembly includes ventures into electric vehicles, semiconductors, and servers. This strategic shift aims to secure its position in high-growth areas and mitigate risks associated with its traditional business model.

The firm’s efforts in AI servers and other advanced technologies are expected to bolster its revenue streams and maintain its competitive edge in the rapidly evolving tech landscape.