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.

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.

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

Apple and Nvidia supplier Foxconn posted a record topline in Q4 driven by higher cloud and networking and strong demand from AI servers.

Key Takeaways 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 began.Teradyne shares pushed higher as Northland Securities analysts highlighted upside potential for the company's electronic testing equipment.

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.

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

Global semiconductor stocks climbed on Monday after Foxconn posted record fourth-quarter revenue, suggesting the AI boom has far more room to run.