Taiwan's Foxconn expects robust growth in its artificial intelligence server business next year and will increase investment in several countries amid mounting trade tensions between the U.S. and China,

Revenue rose 20% to NT$1.855 trillion, a record for the period. AI-server sales grew over 200% in the first nine months of the year and are expected to be the biggest driver of Foxconn’s business in 2025, Chairman Young Liu said during the earnings call.

Foxconn, the world’s largest contract electronics maker reported better-than-expected third-quarter financials on firm demand for AI servers.