Foxconn's +47% quarter fuels Nvidia record chase; NVDA up 0.5% premarket
What happened
Foxconn (Hon Hai Precision Industry) reported September-quarter revenue of 3.03 trillion New Taiwan dollars ($95.48 billion) on Monday, up 47% from a year earlier, and said 'AI-related operations' are set to keep growing in the fourth quarter, without giving specific guidance. Foxconn is Nvidia's key AI-server partner, building the AI servers that house Nvidia chips. Nvidia shares rose 0.5% to $235.21 in premarket trading, putting the stock within reach of its all-time closing high of $235.74 (May), after touching an intraday record of $237.88 on Friday. The stock has risen ~20% in three months and now trades at a forward P/E of about 17.1x, per FactSet — down from ~24x in May. Investors.com notes NVDA is breaking out past a cup-with-handle entry at $234.76 with a four-session winning streak, and Friday's board approval of a record $150B buyback authorization adds support.
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Start your free 14-day trialWho’s affected
- Nvidia (NVDA) — Foxconn's AI-server revenue is a demand read-through; shares +0.5% premarket at ~$235.21, chasing the $235.74 record close
- Hon Hai/Foxconn — Sept-quarter revenue 3.03T TWD ($95.48B), +47% YoY; said AI-related operations will keep growing in Q4
- AI-hardware complex (Dell, HPE, Broadcom, Micron, AMD) — Foxconn's print corroborates sustained AI-server demand across the supply chain