Foxconn CEO says AI demand is strong, very optimistic about second half

At the annual shareholder meeting, Foxconn Chairman Liu Yangwei said that the rapid growth in AI demand is driving business expansion, and he is confident about future growth momentum. He pointed out that the traditional mid-year seasonal slowdown in the tech supply chain has disappeared, making him very optimistic about the second half of this year. Unless a serious 'black swan' event occurs, he sees no signs of that happening.

Liu noted that major cloud service providers have invested over $700 billion in AI this year, potentially reaching $1 trillion next year. As Nvidia's largest server manufacturer, Foxconn expects its capital expenditure to grow 30% from last year. Regarding the global memory chip shortage, he said some high-end clients are affected, but the overall impact is not significant, and customer impact will be limited.