Taiwan’s Foxconn, the world’s largest contract electronics maker, saw a 27% increase in second-quarter operating profit, reaching NT$56.596 billion. The company’s net profit for the same period hit NT$44.36 billion, beating SmartEstimates. Foxconn is expanding into AI, partnering with Nvidia and investing in AI data centers with TECO Electric & Machinery.

Foxconn, known for manufacturing Apple’s iPhones, is diversifying into AI and electric vehicles. Despite U.S. President Trump’s tariffs impacting its outlook, the company is seeing record revenue driven by AI product demand. Foxconn expects further revenue growth in the third quarter but is monitoring global economic conditions closely for any impact.

Read more at CNBC: AI demand boosts iPhone maker Foxconn’s second-quarter profit by 27%, beating forecasts