Nvidia-Partner Hon Hai’s Shares Climb After AI Spurs Sales Beat
- Company sees significant sales growth for the first quarter
- December revenue advances 42% on strong AI server sales
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Hon Hai Precision Industry Co. reported faster-than-expected 15% revenue growth after the server assembly partner to Nvidia Corp. rode sustained demand for AI infrastructure.
Hon Hai, also the world’s largest maker of Apple Inc. iPhones, reported NT$2.13 trillion ($64.6 billion) of revenue for the past three months. December revenue rose 42%, helping the company known as Foxconn beat analyst expectations. It also forecast “significant” sales growth for the first quarter, helping its shares rise as much as 3.6% in Taipei, their biggest intraday gain in about two weeks.