Nvidia (NVDA) shares are extending gains on Friday after one of its major suppliers, Foxconn, issued guidance that confirmed the AI trade is far from over yet. The electronics maker known more formally as Hon Hai Precision Industry expects its AI server revenue to exceed 1 trillion New Taiwanese dollars or about $30 billion in 2025.

Nvidia stock was rising on Friday after a key supplier’s latest earnings report appeared to bode well for the artificial-intelligence trade, even as investors fret about slowing consumer spending. The chip maker’s shares climbed 1.

Foxconn (SS:601138), the worlds largest contract electronics manufacturer and key supplier for Apple (NASDAQ:AAPL) and Nvidia (NASDAQ:NVDA), is expected to report a 2.35% rise in fourth-quarter profit,

TAIPEI (Reuters) - Taiwan’s Foxconn (SS: 601138 ), the world’s largest contract electronics maker, is expected to report on Friday that fourth-quarter profit rose 2.35% on strong demand for artificial intelligence servers.

TAIPEI (Reuters) -Taiwan’s Foxconn (SS: 601138 ), the world’s largest contract electronics maker, forecast strong revenue growth in the first quarter after reporting a surprise 13% drop in fourth-quarter profit.