Taiwan company Foxconn has announced that its board of directors has approved an investment plan to buy equipment for an artificial intelligence compute cluster and a supercomputing centre. The plan will allow the company to spend up to forty two billion New Taiwan Dollars which is equal to one point three seven billion United States Dollars.
The company said in a filing published late on Monday that the investment will be made using its own funds. The time period for this spending is from December 2025 to December 2026.
Foxconn said that the purpose of this plan is “to expand the cloud compute service platform and accelerate the development of the Group’s three smart platforms.” The company did not say where this investment would be made.
Foxconn is the largest contract electronics maker in the world. It is also known as Hon Hai Precision Industry Company Limited. The company has been increasing its investments in artificial intelligence and cloud infrastructure. It is searching for new business growth beyond smartphones and other traditional electronics manufacturing.
In May Foxconn announced that it would build an artificial intelligence centre with a United States chip company in Taiwan. It is planned to have one hundred megawatts of power.
In August the company said it will manufacture data centre equipment with a Japan based company at the former Foxconn electric vehicle factory in Ohio. This is part of the Stargate project which aims to grow United States artificial intelligence infrastructure.
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