The surge in AI server shipments has driven Hon Hai's October sales to a record high for a single month since the company's establishment

The AI boom continues to play a role as a growth engine, with Hon Hai's October revenue data performing impressively, setting multiple historical records.

On November 5th, as the largest server manufacturer for NVIDIA and the top iPhone assembler for Apple, Hon Hai's latest earnings report shows that the AI server business has become a growth engine, with October revenue not only setting a historical record for the same period but also achieving the highest monthly record since the company's establishment (the second highest for the same period was NT$ 804.8 billion in October 2024; the second highest monthly revenue was NT$ 837.0 billion in September 2025).

Financial Performance:

October revenue reached NT$ 895.7 billion, surpassing September's NT$ 837.0 billion, and significantly higher than last year's NT$ 804.8 billion, with a month-on-month increase of 7.01% and a year-on-year increase of 11.29% (15.4% year-on-year in USD terms);

Cumulative revenue for the first ten months reached NT$ 6.39 trillion, a year-on-year increase of 15.55% (17.9% year-on-year in USD terms), also setting a historical high for the same period.

AI Business Continues to Be a Growth Engine

The cloud network product category is undoubtedly the biggest contributor to this revenue growth.

According to the earnings report, this category ranks first in growth across all dimensions, including month-on-month, year-on-year, and cumulative for the first ten months. The company clearly stated that this is mainly due to the "strong momentum in AI cabinet shipments."

This indicates that the strong demand for AI cloud products has become a key driver of the rapid growth of the cloud network business, aligning with the current global trend of technology giants investing heavily in AI infrastructure.

Components and other product categories also performed strongly, which the company attributes to "strong demand for key business-related components."

This somewhat indicates that Hon Hai's component business interacts positively with its main assembly business, but it also means that its growth is highly dependent on the shipment performance of end products.

It is worth noting that the company's outlook for the fourth quarter is "operations will continue to grow quarter by quarter," citing the continued increase in AI cabinet shipments and the entry of ICT products into the peak season in the second half of the year.

Traditional Business Weakness, Exchange Rates Become the "Scapegoat"

The computer terminal product category achieved "strong growth" month-on-month in October, which the company attributed to new products and holiday stocking demands. However, from an annual perspective, this category was only "approximately flat," with the first ten months also remaining flat.

This reflects that the overall weakness in the PC market has not fundamentally changed, and even with the support of new product cycles and seasonal factors, substantial growth is difficult to achieve.

More concerning is the consumer smart products category—this segment is primarily composed of iPhone assembly business.

From the company's description, this category was "approximately flat" month-on-month in October, "slightly declining" year-on-year, and also "approximately flat" for the first ten months. Hon Hai explained this as being "affected by exchange rates."