Nvidia supplier Hon Hai’s sales beat on continued AI demand

Nvidia Corp.’s server assembly partner Hon Hai Precision Industry Co. reported a bigger-than-expected 40% jump in quarterly sales and said AI demand is growing further.

Shipments of AI racks are expected to maintain their momentum in the current quarter, while demand for information and communications technology products is entering peak season, the company said in a statement Sunday. Overall operations are expected to grow both quarter-on-quarter and year-on-year, it said.

Hon Hai, also known as Foxconn, has established itself as a key AI hardware player by assembling........

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