Taiwan's Foxconn , the world's largest contract electronics maker, beat expectations to post its highest-ever revenue for the fourth quarter on continued strong demand for artificial intelligence (AI) servers.

Chip stocks surged in intraday trading Monday after Taiwan's Foxconn posted record fourth-quarter revenue, driven by the boom in artificial intelligence (AI) demand.

Buoyed by their impressive performance, the companies are busy expanding into new products and places. Contract manufacturers have also been expanding into new industries. In October Foxconn unveiled two new electric-vehicle designs,

Chip stocks including Nvidia, Micron, and ASML surged on Monday after Foxconn reported record fourth quarter revenue, pointing to strong AI demand.

Key Takeaways The S&P 500 added 0.6% on Monday, Jan. 6, led by a surge in semiconductor stocks as the first full week of the new year began.Teradyne shares pushed higher as Northland Securities analysts highlighted upside potential for the company's electronic testing equipment.

Semiconductor stocks jumped on Monday, lifted by buoyant news regarding the artificial intelligence sector. The S&P and Nasdaq posted two straight days of gains.

Apple and Nvidia supplier Foxconn posted a record topline in Q4 driven by higher cloud and networking and strong demand from AI servers.

TSMC , the world's largest contract chipmaker, reported on Friday fourth-quarter revenue that easily beat market forecasts and hit its own expectations as it reaped the benefit of artificial intelligence demand.

Shares of artificial intelligence (AI) chipmakers like Broadcom ( AVGO -3.29%), Marvell Technology ( MRVL -2.34%), and Arm Holdings ( ARM -2.06%) rallied on Monday. At one point, they were up by 4%, 4.4%, and 5.4%, respectively. As of 1:26 p.m. ET, their gains had moderated to 1.2%, 1.7%, and 4.9%, respectively.

Foxconn reported a record revenue of NT$654.825 billion (approx. US$19.91 billion) in December 2024, thanks to the initial shipments of GB200-related products. This boost contributed to a total annual revenue of NT$6.

The Taiwan-listed assembler of Apple and Nvidia products posted record revenue for the fourth quarter, helped by robust demand for servers to power burgeoning artificial intelligence technologies.

Taiwan’s Foxconn 2317-1.86%decrease; red down pointing triangle raked in a record amount of revenue for the fourth quarter, helped by robust demand for servers to power burgeoning artificial ...