- Reuters
Foxconn's Q1 profit to jump from low base, AI to power growth
Taiwan's Foxconn, the world's largest contract electronics maker, is expected to report on Tuesday that first-quarter profit more than doubled on robust demand for artificial intelligence servers and after coming off a low base a year ago. Net profit for January-March for Apple's top iPhone assembler likely came in at T$29.3 billion ($904.6 million), according to an LSEG consensus estimate of 15 analysts. That would represent a 129% increase from the same period a year ago when profit sagged after the company took a T$17.3 billion writedown related to its 34% stake in Japanese electronics maker Sharp Corp. It would also mark a third consecutive quarter of profit growth.
- CNN Business
Biden takes aim at Trump for failed Foxconn project with visit to Microsoft’s new site in Wisconsin
Microsoft said it is pouring $3.3 billion into building a data hub in Wisconsin that aims to train employees and manufacturers on how to best use artificial intelligence.
- Reuters
UPDATE 3-Biden touts new $3.3 billion Microsoft data center at failed Foxconn site Trump backed
U.S. President Joe Biden on Wednesday unveiled plans by Microsoft Corp to build a $3.3 billion data center in southeastern Wisconsin, drawing a sharp contrast to his Republican predecessor who had backed a previous $10 billion project at the same site that was significantly scaled back. Biden, on his fourth visit to Wisconsin this year, said Microsoft's investment would create thousands of jobs in the presidential election battleground state that his campaign sees as critical to his bid for a second term.
