Hon Hai Profit Jumps 35% Amid Sustained AI Hardware Demand

Nvidia's partner, Hon Hai Precision Industry Co., reported a better-than-expected increase in quarterly profit, signaling robust global demand for AI hardware. The company's net income for the three months ended in June grew 35% to NT$60 billion ($1.9 billion), exceeding the average analyst projection of NT$58.4 billion.

The jump in profit comes on the heels of a previously reported 40% rise in quarterly sales, and revenue in July surged 54.2% to NT$946.5 billion. Analysts had been looking for a 32% increase in sales in the current quarter.