Taiwan's Foxconn , the world's largest contract electronics maker, beat expectations to post its highest-ever revenue for the fourth quarter on continued strong demand for artificial intelligence (AI) servers.

Chip stocks surged in intraday trading Monday after Taiwan's Foxconn posted record fourth-quarter revenue, driven by the boom in artificial intelligence (AI) demand.

Chip stocks including Nvidia, Micron, and ASML surged on Monday after Foxconn reported record fourth quarter revenue, pointing to strong AI demand.

TSMC is making headlines again with its AI exploits. The world’s largest chipmaker raked in 868.5 billion New Taiwan dollars ($26.3 billion) in revenue for December 2024. That’s a 38.8% jump compared to the same period in 2023.

The S&P 500 added 0.6% on Monday, Jan. 6, led by a surge in semiconductor stocks as the first full week of the new year got underway.

Foxconn's fourth quarter 2024 revenue surged 15.17%, setting a record for the highest revenue ever, driven by strong demand in AI.

TSMC, the world's largest contract chipmaker, reported on Friday fourth-quarter revenue that easily beat market forecasts and hit its own expectations as it reaped the benefit of artificial intelligence demand.

The Taiwan-listed assembler of Apple and Nvidia products posted record revenue for the fourth quarter, helped by robust demand for servers to power burgeoning artificial intelligence technologies.