Foxconn, formally known as Hon Hai Precision Industry, reported a 29.7% increase in first-quarter revenue, totaling T$2.13 trillion (approximately $66.60 billion), driven by robust demand for artificial intelligence products. The company noted significant growth in its cloud and networking products division, attributed to the rising popularity of AI technologies. Notably, revenue for March surged by 45.6% year-on-year, marking a record for that month. Despite these strong results, Foxconn expressed caution regarding the impact of volatile global political conditions, particularly the ongoing conflict in the Middle East, which Chairman Young Liu identified as the company's biggest external challenge for the year. The company does not provide numerical forecasts but expects continued growth in the second quarter. Foxconn's shares have fallen 16% this year, underperforming the broader Taiwan market, which has risen by 12%.