Record quarterly revenue at contract manufacturing giant suggests strong demand for hardware of all sorts Foxconn has singled out AI servers as a reason for its record revenue, and its suppliers’ share prices surged on the news.

Chip stocks including Nvidia, Micron, and ASML surged on Monday after Foxconn reported record fourth quarter revenue, pointing to strong AI demand.

Buoyed by their impressive performance, the companies are busy expanding into new products and places. Contract manufacturers have also been expanding into new industries. In October Foxconn unveiled two new electric-vehicle designs,

Shares of artificial intelligence (AI) chipmakers like Broadcom ( AVGO -3.29%), Marvell Technology ( MRVL -2.34%), and Arm Holdings ( ARM -2.06%) rallied on Monday. At one point, they were up by 4%, 4.4%, and 5.4%, respectively. As of 1:26 p.m. ET, their gains had moderated to 1.2%, 1.7%, and 4.9%, respectively.

UBTech partners with Apple's manufacturing partner, Foxconn, to build the iPhone using Walker S1 humanoid robots.

Semiconductor stocks jumped on Monday, lifted by buoyant news regarding the artificial intelligence sector. The S&P and Nasdaq posted two straight days of gains.

TSMC’s strong Q4 earnings and AI-driven growth indicate promising potential. Find out why TSM stock offers a compelling buy despite geopolitical risks.

Robust AI server demand led to strong revenue growth for its cloud and networking products division, said Foxconn, whose customers include AI chip firm Nvidia. For smart consumer electronics ...

Nvidia ( NVDA 4.75%) stock is seeing strong gains in Monday's trading. The company's share price was up 4.7% as of 12:30 p.m. ET. Meanwhile, the S&P 500 ( ^GSPC 1.00%) was up 1.1%, and the Nasdaq Composite ( ^IXIC 1.49%) was up 1.6%.

Foxconn's earnings release comes just a week after Microsoft announced that it expects to spend $80 billion on AI data center infrastructure in its FY 2025. This was huge news for investors, as it confirms that Silicon Valley's AI arms race is not winding down any time soon.

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The story of the battle for semiconductors was the battle between Liang Mong Song of SMIC /Samsung vs Morris Chang of TSMC and the future of AI.