Hon Hai’s Shares Surge After AI Servers Drive Revenue and Profit

Nvidia Corp.’s major server assembly partner Hon Hai Precision Industry Co. reported a stronger-than-expected increase in quarterly profit, pushing its shares to their biggest intraday jump since February.

Net income for the March quarter rose 19% to NT$49.9 billion ($1.6 billion), while analysts on average had expected NT$48.4 billion. The Taiwanese company earlier reported a 30% rise in sales that was broadly in line with expectations. Its confident outlook about sustained demand for artificial intelligence technology helped shares rise by as much as 6.3% on Friday.