Foxconn Industrial’s 100% Rally May Extend on China’s AI Frenzy
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The global artificial intelligence frenzy is prompting local Chinese investors to pile into shares of Taiwan’s Foxconn Industrial Internet Co., instead of home-grown companies.
The AI server maker, controlled by Taiwanese billionaire Terry Gou’s Hon Hai Precision Industry Co., has seen its stock more than double in Shanghai since mid-January. Its performance this year beats all others on the benchmark CSI 300 Index and compares with a drop of more than 9% in the mainland chip-making leader Semiconductor Manufacturing International Corp.