Foxconn Technology Group reported better-than-expected profit for the third quarter as the artificial-intelligence boom drove demand for its AI servers.The world’s largest contract electronics maker said Thursday that its net profit was 49.

Taiwanese contract manufacturer Foxconn on Thursday said it was reiterating its outlook but with better visibility after record earnings and profit.

AI Growth Projections Taiwanese tech giant Foxconn has reported a forecast-topping net profit for the third quarter and anticipates robust future growth in demand for artificial intelligence (AI) servers.