Foxconn: iPhone supplier benefits from AI boom and reports record sales

Strong demand for AI has boosted business in the cloud and network products division. The company's customers include AI chip manufacturer Nvidia and Apple , for which Foxconn produces most of its iPhones.

In the division that includes iPhone production, revenue growth stagnated. Foxconn attributed this primarily to currency effects, which could also impact business for the full year. Geopolitical tensions and future economic conditions are also making the Taiwanese company more cautious about the future.