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Taiwan Tech Giant Foxconn’s 2024 Profit Misses Forecasts 

The logo of Foxconn is on display during the Smart City Summit & Expo pre-event press conference in Taipei, Taiwan, 11 March 2025. (EPA)
The logo of Foxconn is on display during the Smart City Summit & Expo pre-event press conference in Taipei, Taiwan, 11 March 2025. (EPA)
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Taiwan Tech Giant Foxconn’s 2024 Profit Misses Forecasts 

The logo of Foxconn is on display during the Smart City Summit & Expo pre-event press conference in Taipei, Taiwan, 11 March 2025. (EPA)
The logo of Foxconn is on display during the Smart City Summit & Expo pre-event press conference in Taipei, Taiwan, 11 March 2025. (EPA)

Taiwanese tech giant Foxconn reported on Friday a lower-than-expected net profit for 2024 as consumer electronic gadgets underperformed, although demand for its artificial intelligence servers remained robust.

The world's largest contract electronics manufacturer has been moving beyond assembling devices such as Apple's iPhones into areas ranging from electric vehicles to AI servers.

The company said full-year net profit rose seven percent to NT$152.7 billion (US$4.6 billion).

That compares with an average forecast of NT$159.4 billion, according to a Bloomberg News survey of analysts.

Full-year revenue rose 11 percent to NT$6.9 trillion, beating the market forecast of NT$6.8 trillion.

Foxconn, also known as Hon Hai Precision Industry, has been riding a wave of global demand for generative AI in recent years.

The company reported a "strong performance" in its AI server business, with revenue up 150 percent, according to documents released ahead of an earnings call with analysts.

This year would be the "Year of AI", the company said, with shipments increasing in every quarter.

The earnings announcement comes as US President Donald Trump imposed tariffs against major trading partners including China, Canada and Mexico, igniting trade wars and causing markets to fall.

While Foxconn has plants around the world, the bulk of its operations is based in China, which has been hit by 20 percent levies on products shipped to the United States.

Foxconn is building a mega-AI server plant in Mexico, which a local official told Bloomberg recently would be completed in a year despite Trump's tariff threats.

The $900 million assembly plant near Guadalajara will become the world's largest to be powered by Nvidia's GB200 AI chips, Jalisco Governor Pablo Lemus Navarro said.

Foxconn has also been in the spotlight over potential cooperation with Japanese automaker Nissan after its merger talks with rival Honda fell through in February.

Chairman Young Liu said previously that Foxconn was open to buying French auto giant Renault's stake in Nissan and was looking into a cooperation with Nissan, not a merger.

Foxconn has been looking to expand into the Japanese EV market and Liu said last month the company would announce "good news" in EVs within one or two months.

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Technology

Saudi National Cybersecurity Authority Launches Service to Verify Suspicious Links

Saudi National Cybersecurity Authority Launches Service to Verify Suspicious Links
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Saudi National Cybersecurity Authority Launches Service to Verify Suspicious Links

Saudi National Cybersecurity Authority Launches Service to Verify Suspicious Links

The National Cybersecurity Authority has launched the “Tahqaq” service, aimed at enabling members of the public to proactively and safely deal with circulated links and instantly verify their reliability before visiting them.

This initiative comes within the authority’s strategic programs designed to empower individuals to enhance their cybersecurity, SPA reported.

The authority noted that the “Tahqaq” service allows users to scan circulated links and helps reduce the risks associated with using and visiting suspicious links that may lead to unauthorized access to data. The service also provides cybersecurity guidance to users, mitigating emerging cyber risks and boosting cybersecurity awareness across all segments of society.

The “Tahqaq” service is offered as part of the National Portal for Cybersecurity Services (Haseen) in partnership with the authority’s technical arm, the Saudi Information Technology Company (SITE). The service is available through the unified number on WhatsApp (+966118136644), as well as via the Haseen portal website at tahqaq.haseen.gov.sa.

Technology

Saudi Arabia’s Space Sector: A Strategic Pillar of a Knowledge-Based Economy

The Kingdom is developing an integrated sovereign space system encompassing infrastructure and applications, led by national expertise - SPA
The Kingdom is developing an integrated sovereign space system encompassing infrastructure and applications, led by national expertise - SPA
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Saudi Arabia’s Space Sector: A Strategic Pillar of a Knowledge-Based Economy

The Kingdom is developing an integrated sovereign space system encompassing infrastructure and applications, led by national expertise - SPA
The Kingdom is developing an integrated sovereign space system encompassing infrastructure and applications, led by national expertise - SPA

Saudi Arabia is undergoing significant transformations toward an innovation-driven knowledge economy, with the space sector emerging as a crucial pillar of Saudi Vision 2030. This sector has evolved from a scientific domain into a strategic driver for economic development, focusing on investing in talent, developing infrastructure, and strengthening international partnerships.

CEO of the Saudi Space Agency Dr. Mohammed Al-Tamimi emphasized that space is a vital tool for human development. He noted that space exploration has yielded significant benefits in telecommunications, navigation, and Earth observation, with many daily technologies stemming from space research, SPA reported.

Dr. Al-Tamimi highlighted a notable shift with the private sector's entry into the space industry, which is generating new opportunities. He stressed that Saudi Arabia aims not just to participate but to lead in creating an integrated space ecosystem encompassing legislation, investment, and innovation.

He also noted the sector's role in fostering national identity among youth, key drivers of the industry. Investing in them is crucial for the Kingdom's future, focusing on creating a space sector that empowers Saudi citizens.

In alignment with international efforts, the Saudi Space Agency signed an agreement with NASA for the first Saudi satellite dedicated to studying space weather, part of the Artemis II mission under a scientific cooperation framework established in July 2024.

According to SPA, the Kingdom is developing an integrated sovereign space system encompassing infrastructure and applications, led by national expertise. This initiative is supported by strategic investments and advanced technologies within a governance framework that meets international standards. Central to this vision is the Neo Space Group, owned by the Public Investment Fund, which aims to establish Saudi Arabia as a space leader.

Saudi Arabia views space as a strategic frontier for human development. Vision 2030 transforms space into a bridge between dreams and achievements, empowering Saudi youth to shape their futures. Space represents not just data and satellites but a national journey connecting ambition with innovation.

Technology

Nvidia, Joining Big Tech Deal Spree, to License Groq Technology, Hire Executives

The Nvidia logo is seen on a graphic card package in this illustration created on August 19, 2025. (Reuters)
The Nvidia logo is seen on a graphic card package in this illustration created on August 19, 2025. (Reuters)
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Nvidia, Joining Big Tech Deal Spree, to License Groq Technology, Hire Executives

The Nvidia logo is seen on a graphic card package in this illustration created on August 19, 2025. (Reuters)
The Nvidia logo is seen on a graphic card package in this illustration created on August 19, 2025. (Reuters)

Nvidia has agreed to license chip technology from startup Groq and hire away its CEO, a veteran of Alphabet's Google, Groq said in a blog post on Wednesday.

The deal follows a familiar pattern in recent years where the world's biggest technology firms pay large sums in deals with promising startups to take their technology and talent but stop short of formally acquiring the target.

Groq specializes in what is known as inference, where artificial intelligence models that have already been trained respond to requests from users. While Nvidia dominates the market for training AI models, it faces much more competition in inference, where traditional rivals such as Advanced Micro Devices have aimed ‌to challenge it ‌as well as startups such as Groq and Cerebras Systems.

Nvidia ‌has ⁠agreed to a "non-exclusive" ‌license to Groq's technology, Groq said. It said its founder Jonathan Ross, who helped Google start its AI chip program, as well as Groq President Sunny Madra and other members of its engineering team, will join Nvidia.

A person close to Nvidia confirmed the licensing agreement.

Groq did not disclose financial details of the deal. CNBC reported that Nvidia had agreed to acquire Groq for $20 billion in cash, but neither Nvidia nor Groq commented on the report. Groq said in its blog post that it will continue to ⁠operate as an independent company with Simon Edwards as CEO and that its cloud business will continue operating.

In similar recent deals, Microsoft's ‌top AI executive came through a $650 million deal with a startup ‍that was billed as a licensing fee, and ‍Meta spent $15 billion to hire Scale AI's CEO without acquiring the entire firm. Amazon hired ‍away founders from Adept AI, and Nvidia did a similar deal this year. The deals have faced scrutiny by regulators, though none has yet been unwound.

"Antitrust would seem to be the primary risk here, though structuring the deal as a non-exclusive license may keep the fiction of competition alive (even as Groq’s leadership and, we would presume, technical talent move over to Nvidia)," Bernstein analyst Stacy Rasgon wrote in a note to clients on Wednesday after Groq's announcement. And Nvidia CEO Jensen Huang's "relationship with ⁠the Trump administration appears among the strongest of the key US tech companies."

Groq more than doubled its valuation to $6.9 billion from $2.8 billion in August last year, following a $750 million funding round in September.

Groq is one of a number of upstarts that do not use external high-bandwidth memory chips, freeing them from the memory crunch affecting the global chip industry. The approach, which uses a form of on-chip memory called SRAM, helps speed up interactions with chatbots and other AI models but also limits the size of the model that can be served.

Groq's primary rival in the approach is Cerebras Systems, which Reuters this month reported plans to go public as soon as next year. Groq and Cerebras have signed large deals in the Middle East.

Nvidia's Huang spent much of his biggest keynote speech of 2025 arguing that ‌Nvidia would be able to maintain its lead as AI markets shift from training to inference.