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iPhone maker Foxconn joins $1 trillion AI data center market with new alliance [MSNBC.com]
Last apple inc. earnings: 4/30 04:30 pm
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US:NASDAQ Investor Relations: investor.apple.com
FoxconnTECO Electric & Machinery CoThe Taiwanese firm, formally known as Hon Hai, is looking to replicate the success it has had in consumer electronics in the world of . It's a play that could unlock Foxconn's access to a potential $1 trillion of spending by companies on data centers in the coming years, according to Counterpoint Research, and will also pit the Taiwanese giant against companies like ABB,SiemensMitsubishi ElectricFoxconn will take a 10% stake in TECO as the result of a share exchange. TECO started life as a engine maker for cars but has since extended into areas such as electric vehicles, energy storage and data center construction. Foxconn meanwhile, which assembles Apple's iPhone and is a key partner forNvidiaThe two companies are now teaming up to bring their expertise together to effectively create a one-stop-shop for anyone looking to set up an data center."The strategic partnership extends the two companies' cooperation in the fields of low-carbon smart factori
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