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Foxconn's Young Liu says AI demand to boost server business

Chairman says iPhone assembler is racing to stay ahead of Chinese rivals

Foxconn Chairman Young Liu, center, attends the company's annual shareholder meeting in New Taipei City on May 31. (Photo by Lauly Li)

NEW TAIPEI CITY, Taiwan -- Foxconn, the world's largest contract electronics manufacturer, estimates its revenue from artificial intelligence servers will more than double this year thanks to skyrocketing demand from generative AI applications such as ChatGPT.

"People's reliance on ChatGPT is growing. What we are seeing now is the demand for AI servers is expanding," Foxconn Chairman Young Liu said at the annual shareholder meeting at the company's headquarters in New Taipei City. "The growth of Foxconn's AI servers is forecast to be increasing by three-digit percent [on the year this year]."

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