Foxconn expected to post strong Q1 profit growth on AI server demand

Taiwan‘s Foxconn, the world’s largest contract electronics maker, is expected to report on Wednesday that first-quarter profit leapt 72% on continued strong demand for artificial intelligence servers.

Net profit for January-March for Apple’s top iPhone assembler and Nvidia‘s server maker likely came in at T$37.8 billion ($1.25 billion), according to an LSEG consensus estimate of 13 analysts, versus T$22.01 billion a year earlier.

Foxconn, formally called Hon Hai Precision Industry, said last month that its first-quarter revenue jumped 24.2% to a…