Foxconn, a key Nvidia partner in its artificial intelligence buildout, saw its revenue spike 26% year-on-year in November, as demand for servers continued to ramp up amid the AI boom.

The Taiwanese company, also known as Hon Hai, is the world’s largest contract electronics manufacturer and makes the servers that hold chips in data centers, as well as assembling Apple’s iPhone. 

Foxconn on Friday reported “strong growth” year-on-year for its cloud and networking products, pointing to “momentum for AI server racks,” in its monthly revenue report. It reported revenue of NT$844.3 billion ($27 billion) for November. 

A longstanding partner to many of the world’s largest tech companies including Nvidia and Apple, Foxconn has become a key player in the rollout of AI infrastructure in recent times. 

It was announced in May that the company would provide infrastructure to a major AI factory in Taiwan, in collaboration with Nvidia and the Taiwanese government. Two months later Foxconn announced it was taking a stake in data center construction company TECO Electric & Machinery Co.

OpenAI said last month that it would collaborate with the Taiwanese company on design work and U.S. manufacturing readiness for next generation AI infrastructure hardware.  

Foxconn’s month-on-month revenue was down around 6%, with the company pointing to its smart consumer electronics segment slightly declining. 

“AI server rack shipments continue to ramp up, and ICT products are in peak season in the second half of the year,” the monthly report said in its business outlook for the fourth quarter. 

The company said in November that growth in its AI server business had seen its third-quarter profits jump 17% year-on-year.

Foxconn’s share price has jumped 26% since the start of 2025, following a 76% uptick over the previous 12 months.