Foxconn earnings jump 19% as cloud spend tops $700bn

Business May 29, 2026

Foxconn, the world's largest contract electronics maker, is feeling upbeat as demand for AI products pushes its profits up: first-quarter earnings jumped 19% this year.
At its annual meeting in New Taipei, Chairman Young Liu pointed out that cloud companies are spending over $700 billion on technology this year, giving Foxconn plenty of room to grow.

Foxconn to boost AI spending 30%

To ride the AI wave, Foxconn plans to boost spending by 30% in 2026 to expand its AI server production and keep leading as NVIDIA's biggest server maker and Apple's iPhone assembler.
Still, its stock is up just 19% this year, much less than Taiwan's overall market.