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Foxconn plans to double its iPhone production in India to 25-30 million units by 2025, with a focus on its new Bengaluru facility. This plant, currently under development, will have the capacity to assemble 20 million smartphones annually and represents a significant investment of 25,000 crore rupees (US$3 million), making it Foxconn's largest plant in India and the second largest globally.
Foxconn will hold a seminar in Japan on April 9 to present its electric vehicle (EV) strategy, targeting local automakers and suppliers. Jun Seki, the company's chief EV strategy officer and a former Nissan executive, is set to speak at the event. This follows Foxconn's recent agreement with Mitsubishi Motors to produce EVs for Oceania, marking its first outsourcing deal with a Japanese automaker and indicating a potential shift in Japan's automotive landscape amid rising competition from Chinese manufacturers like BYD.
Foxconn has invested $142 million in Texas, acquiring an 86.34-acre property and a 1 million square-foot building in Houston through its subsidiary, Ingrasys Technology Inc. The facility is expected to expand AI server production for North American clients, excluding Apple Inc.
Saudi Arabia is rapidly advancing its electric vehicle (EV) sector, aiming for 30% of vehicles in Riyadh to be electrified by 2030. With significant investments in infrastructure, local brands like Ceer, and partnerships with global automakers, the Kingdom is positioning itself as a key player in the global automotive market while creating tens of thousands of jobs and fostering innovation. The strategy includes developing a self-sufficient supply chain, enhancing workforce skills, and expanding charging networks through public-private partnerships.
Foxconn, the world's largest contract electronics manufacturer, is set to report a 2.35% increase in fourth-quarter profit, driven by strong demand for AI servers. The net profit for October-December is expected to reach T$54.4 billion ($1.65 billion), up from T$53.15 billion a year earlier, with revenue jumping 15.2% to a record for the quarter.
Nvidia is projected to generate $9 billion in Q4 revenue from its Blackwell GPUs, significantly surpassing UBS's previous estimate of $5 billion. Analyst Timothy Arcuri attributes this surge to improved chipset yields and a swift transition from Hopper to Blackwell, alongside advancements in hardware issues. Despite the optimistic outlook for Blackwell, demand for Hopper appears to be waning, with UBS maintaining a $185 price target for Nvidia's stock, which is currently trading at $138.85.
Nvidia is projected to generate $9 billion in Q4 revenue from its Blackwell GPUs, significantly surpassing UBS's previous estimate of $5 billion. Analyst Timothy Arcuri attributes this surge to improved chipset yields and a swift transition from Hopper to Blackwell, alongside advancements in hardware issues. Despite the optimistic outlook for Blackwell, UBS maintains a $185 price target for Nvidia, with total Q4 revenue expected to reach $42 billion.
Indexes rose Thursday, driven by a rally in chip stocks, particularly Nvidia, which gained 3% after CEO Jensen Huang unveiled new AI products at CES. Micron Technology also saw a 6% increase as it partners with Nvidia on AI-powered gaming chips. Investors are awaiting key economic data later this week, including job reports.
U.S. markets kicked off the last trading week of the year with gains, led by strong performances from major tech stocks. Meanwhile, Nissan and Honda announced merger discussions, potentially creating a $191.4 billion entity. Taiwan's Taiex emerged as Asia-Pacific's top stock market performer in 2024, driven by tech stocks like TSMC and Foxconn.
Nickel mining in Indonesia, particularly on Kabaena Island, is accelerating deforestation and causing severe environmental and social issues, including pollution and community conflicts. As global demand for nickel surges due to electric vehicle production, local residents and Indigenous communities are facing significant human rights violations and ecological destruction. Civil society groups are advocating for protective measures to mitigate these impacts and ensure sustainable practices in the industry.
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