TAIPEI, Taiwan – Global electronics manufacturer Foxconn on Sunday reported its revenues surged nearly 30% during the first quarter compared with the same period last year, driven by accelerated demand for artificial intelligence products.
Foxconn reported revenues of $2.1 trillion (New Taiwanese dollars), an increase of 29.7% during the first three months of 2026. The increase, the company said, was fueled by demand for networking components “driven by robust momentum in AI cloud products.”
The company anticipates that AI growth is expected to continue during the second quarter but noted the potential impact of world political affairs on the economy.
“AI racks are expected to maintain a continued growth trend,” the company said in a statement. “Based on current visibility, the outlook for second-quarter operations is expected to show both QoQ and YoY growth, though it remains necessary to monitor the impact of the volatile global political and economic situation.”
Foxconn has partnered with Japanese investor SoftBank Group to build components for artificial intelligence data centers at the former General Motors Co. assembly plant in Lordstown. SoftBank acquired the factory in August 2025 for $375 million.