Foxconn, an electronic business company in Taiwan had predicted a three-digit growth in its AI service business as there has been robust AI product service demand, the company’s chairman said on Wednesday.
Foxconn officially known as Hon Hai Precision Industry is the world’s largest manufacturer of electronics which also assembles devices for many international brands to one o which is Apple’s iPhone products. And now the company has expanded its area range from electric vehicles to semiconductors and services.
Hon Hai’s revenue for servers reached 1.1 trillion Taiwan dollars alone in 2022, that is $36 billion and obtained 40% of the global market share, Chairman Young Lui shared in the annual shareholders’ meeting in Taipei.
Further, he added that Foxconn ranked first in the global market share for mobile phones, PCs, and servers as the AI market server is rising faster than anyone had expected.
He explained that the demand for the AI program ChatGPT which became the spotlight last year with great features of generating essays, poems, and conversation to name some becoming a gold rush with billions of dollars of investment in the field in the world.
The company also uses the latest AI servers Nvidia chip, making the second half of the year jimping with the three-digit growth from two-digit growth. They will continue to boost the market share for servers, he further added in the meeting.
Nvidia creates graphic chips long coveted by gamers but recently it has become a kind of complex process for the engines involving AI which is known as accelerated computing.
Nvidia’s co-founder Taiwanese-American Jensen Huang on Tuesday surged to a value of more than $1 trillion in the market after its quarterly earning was released.
Foxconn has maintained a flat for the year of 2023 outlook Lui said when its first-quarter profit plunged 56% on weakened demand due to a global downturn.
“The global tightening monetary (policies), coupled with tense geopolitics and the significant uncertainty of inflation have a relatively large impact on the economic outlook,” he said.
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