Taiwan's Foxconn expects robust growth in its artificial intelligence server business next year and will increase investment in several countries amid mounting trade tensions between the U.S. and China,

Taiwanese electronics giant Foxconn, the world's leading contract manufacturer and a key Apple supplier, reported a surge in third-quarter profits, exceeding market expectations.

Foxconn’s third-quarter revenue jumped 20 per cent year-on-year (YoY), driven by demand for AI servers. This helped the company achieve its highest-ever revenue for the quarter. Foxconn’s shares have doubled in value so far this year, outpacing the broader market’s 28 per cent gain. / TISG