Record quarterly revenue at contract manufacturing giant suggests strong demand for hardware of all sorts Foxconn has singled out AI servers as a reason for its record revenue, and its suppliers’ share prices surged on the news.

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 got underway.

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.

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.

Global semiconductor stocks climbed on Monday after Foxconn posted record fourth-quarter revenue, suggesting the AI boom has far more room to run.

Foxconn's fourth quarter 2024 revenue surged 15.17%, setting a record for the highest revenue ever, driven by strong demand in AI.

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.

Strong demand for AI servers set Taiwan’s Foxconn to a record fourth-quarter revenue. In a statement, the company said its revenue rose 15.2% to T$2.13

Phone assembly giant Foxconn’s revenue surged to $64.72 billion, beating analyst estimates due to high AI server demand in the current market, reported the news agency Reuters.

Foxconn, the world's largest contract electronics maker, broke expectations as it posted its highest-ever revenue for the fourth quarter on

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.