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In October 2021, it agreed to purchase a former GM auto plant from Lordstown Motors and to purchase $50 million of the company's common stock. Under the agreement, Foxconn would use the plant to produce Lordstown's Endurance pickup truck. Fisker vehicles would also be made at the same plant. [103]
Chip stocks surged on Monday after Foxconn's earnings pointed to strong demand for AI servers. The company reported a record $64.75 billion in revenue for the fourth quarter, up 15% from a year ...
Foxconn Industrial Internet Co., Ltd. (Fii; Chinese: 富士康工业互联网; pinyin: Fùshìkāng Gōngyè Hùliánwǎng) is a publicly listed company that engages in the manufacture and sale of electrical equipment that includes telecommunications equipment, cloud computing equipment, precision tools and industrial robots.
Chip stocks rallied, boosted by Foxconn's strong earnings report. US stocks jumped on Monday, led by mega-cap technology stocks like Nvidia , Alphabet , and Meta Platforms as investors revived the ...
The Chinese city’s stock exchange closed for the holiday on Wednesday, just after the DeepSeek news roiled U.S. markets. Consumption-focused companies sank on Monday trading, with e-commerce ...
It was announced that Foxconn would also invest US$50 million in the company through a purchase of common stock. [26] The Foxconn deal was finalized in May 2022, and Foxconn and Lordstown Motors created a new joint-venture, MIH EV Design LLC, to develop and produce a line of EVs. [27]
Chipmakers got a boost from Microsoft's plan to invest $80 billion to develop artificial-intelligence-enabled data centers, as well as Foxconn's forecast-beating fourth-quarter revenue.
Foxconn had taken a 29% stake in S&T AG in 2016. [5] On August 17, 2017, Kontron was merged into S&T; "Kontron" is being maintained as a brand. [6] According to the Dutch OSINT platform Datenna, Foxconn's stake in S&T led to a low risk of state influence on S&T by the Chinese government. [5] On 24 October 2019, S&T acquired AIS Automation. [7]