Foxconn ramps 2026 spending over 30% for AI and automation
Business
Foxconn just announced it is ramping up its capital spending by over 30% in 2026. The goal? To keep up with the booming demand for AI and cloud tech.
CEO Michael Chiang shared that they are also focusing on more automation and expanding factories closer to customers.
Foxconn Q1 profit up 19% $1.58B
Foxconn's move comes after a blockbuster start to 2026: profits jumped 19% year over year, hitting $1.58 billion in Q1, with nearly half of all revenue coming from cloud and networking, especially AI servers.
They are planning to double shipments of AI servers embedded with ASIC this year, with the US and Mexico continuing to serve as AI server production hubs to meet North American demand.