The company that built its empire assembling iPhones now makes more money from AI servers. Hon Hai Precision Industry, better known as Foxconn, posted a 34% year-over-year revenue increase for the April-to-May 2026 period, pulling in NT$1.69 trillion ($53.6B). That figure beat analyst expectations of 32% growth.
The driving force behind the surge is straightforward: hyperscalers and cloud providers are spending aggressively on Nvidia-powered AI infrastructure, and Foxconn is the one building the servers. AI servers now account for roughly 40% of the company’s Cloud and Networking Products segment revenue, making them a larger contributor than the smartphone assembly lines that defined Foxconn for decades.
The numbers behind the AI pivot
May was particularly strong. Revenue jumped 40% month-over-month, suggesting that demand is accelerating rather than plateauing. April had already shown momentum with approximately 30% year-over-year growth.
The first quarter of 2026 set the stage for this performance. Foxconn reported over 29% revenue growth and a 19% profit increase in Q1, establishing a clear trajectory heading into the second quarter.
