On 14 August 2025 it said its net profit after tax had jumped 27 per cent year-on-year to NT$44.36 billion (€1.5 billion), smashing the NT$38.8 billion (€1.11 billion) guesswork of the cocaine nose jobs of Wall Street.

Even more eye-catching was where the cash came from. For the first time, Job’s Mob’s beloved iPhone assembly line got kicked into second place by Hon Hai’s cloud and networking business.

Suddenly, building AI servers for hyperscale data centres brings in more money than sticking together shiny consumer tat for rich kids with more money than sense.

Foxconn Industrial Internet, the Hon Hai bit responsible for most of the AI action, said server rack revenue had surged more than 60 per cent year-on-year while shipments to cloud providers were up over 150 per cent. Second quarter net profits from FII alone could rise by almost 50 per cent if their sums hold up.

Gross profit margin hit 6.33 per cent, creeping past Q1’s 6.11 per cent and hanging on against last year’s 6.42 per cent. Revenue climbed to NT$1.79 trillion (€59 billion) with EPS sitting at NT$3.19 (€0.41), up from NT$2.53 (€0.33) a year ago.

Hon Hai seems pretty chuffed with itself, and not just because of its AI server numbers. Its Model B electric vehicle is still set to roll in the fourth quarter, and it's bagged a fresh EV production deal with Mitsubishi, so the Grey Box Shifter might not have the EV space to itself for long.

Smartkarma’s Vincent Fernando said the company's EV contracts could boost future revenue, while Patrick Liao reckons a new alliance with TECO Electric & Machinery will help Hon Hai flog AI data centre kit from the US to the Middle East.

Investors certainly like what they see. Hon Hai shares are up almost 8 per cent this year, well ahead of Taiwan’s benchmark index, which is dragging its feet at just under 5 per cent.

Job’s Mob might still be the cash cow, but right now it’s AI servers, cloud networking and EV components that are pulling Hon Hai’s cart.