(May 5): Key Nvidia Corp partner Hon Hai Precision Industry Co reported a 29.7% increase in April revenue, underscoring persistently strong spending on hardware essential for AI.
Sales in April reached NT$832.1 billion. Analysts on average are expecting Hon Hai’s June-quarter revenue to grow 30.4%. The company expects its second-quarter sales to grow sequentially and year-over-year, according to a statement on Tuesday.
The Taiwanese company has established itself as a key AI hardware player by assembling servers that house Nvidia accelerators. That’s as Alphabet Inc, Amazon.com Inc, Meta Platforms Inc and Microsoft Corp announced they are setting aside US$725 billion for AI this year, significantly more than previously anticipated.
The Taiwanese company also derives a significant chunk of sales from assembling Apple Inc’s iPhones and MacBooks, and is in position to benefit from the strong reception for the latest iPhone 17 product family.
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