Taiwan's Foxconn , the world's largest contract electronics maker, said on Thursday it expected robust growth in its artificial intelligence server business next year after reporting a better-than-expected 14% rise in quarterly profit.

Taiwanese electronics giant Foxconn, the world's leading contract manufacturer and a key Apple supplier, reported a surge in third-quarter profits, exceeding market expectations.

Foxconn’s third-quarter revenue jumped 20 per cent year-on-year (YoY), driven by demand for AI servers. This helped the company achieve its highest-ever revenue for the quarter. Foxconn’s shares have doubled in value so far this year, outpacing the broader market’s 28 per cent gain. / TISG