TechDogs-"Foxconn And Nvidia Join Forces To Develop Factories For The AI Revolution!"

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Foxconn And Nvidia Join Forces To Develop Factories For The AI Revolution!

By TD NewsDesk

TD NewsDesk

Updated on Thu, Oct 19, 2023

Overall Rating
Foxconn, the largest contract manufacturer in the world, will soon utilize Nvidia’s AI chips and software to construct artificial intelligence factories, the two companies announced.

Foxconn Chairman Liu Young-way and Nvidia CEO Jensen Huang announced their collaboration on AI factory construction during Foxconn's annual Tech Day in Taipei. Huang even displayed a hand-drawn sketch of the "AI factory" being constructed by the two leading businesses.

"This is a factory that takes data input and produces intelligence as an output," he commented. "In the future, every company, every industry, will have AI factories."

According to Huang, Nvidia and Foxconn are developing a whole AI system for autonomous and electric vehicles, with the AI factory helping create the vehicle's software.

"This car would of course go through life experience and collect more data. The data would go to the AI factory, the AI factory would improve the software and update the entire AI fleet," he said.

"This entire end-to-end system, on the one hand AI factory, on the other end EV fleet, is what Nvidia and Foxconn are building."

TechDogs-"Image Of Foxconn Logo."  

Why Are The Two Massive Corporations Working Together?

The Hon Hai Precision Industry Co., Ltd., known as Foxconn internationally, is most well-known as the world's largest contract electronics manufacturer, with facilities found on every continent. Besides central and eastern Europe, Mexico and Brazil, the corporation also operates factories in Malaysia, India and Japan. Some sources claim that the corporation is responsible for producing 40% of all consumer gadgets. Sony, HP Inc.,, Dell Computers and Apple are among its clientele.

In 2022, the corporation was one of the largest employers in the globe, with over a million employees. Foxconn has contracts with many different companies, but its partnership with Apple is being closely monitored.

Nvidia is also not to be underestimated, since their chips are selling like hotcakes and the company is reaping record profits. Nvidia saw an increase in revenue to 26.97 billion U.S. dollars in their 2023 fiscal year, from 26.91 billion U.S. dollars in 2022. For the period analyzed by Statista, 2023 also represents a record high.

In 2023, Nvidia's stock price tripled, giving the business a market cap of over a trillion dollars, as investors were excited about the company's central role in AI applications.

Foxconn, with its manufacturing expertise and Nvidia, with its artificial intelligence chipset surge, stand to benefit greatly from working together.

Foxconn, Apple's primary contract manufacturer, plans to expand into the electric vehicles (EVs) and the automotive markets to achieve the same degree of success it has had with its PCs and smartphones.

Foxconn is "trying to convert itself from a manufacturing service company to a platform solution company," according to Liu, who stood next to Huang and listed smart cities and smart manufacturing as two of the many uses for which the company plans to put its AI factories to work

"Now I know what can power and what can make these smart platforms happen," added Liu.

TechDogs-"An Image Showing Liu Young-way, Chairman of Foxconn"
Foxconn and Nvidia aims to be a dynamic duo in the AI sector. Can their AI factory lay the blueprint for the future of Artificial Intelligence?

Let us know your thoughts in the comments section below!

First published on Thu, Oct 19, 2023

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