Foxconn plans OpenAI collaboration, dismisses AI bubble fears

Chairman Young Liu flagged new work with OpenAI at Hon Hai Tech Day and forecast double-digit growth for next year Foxconn, the world’s largest contract electronics manufacturer, has another project brewing with OpenAI. Chairman Young Liu flagged the collaboration on Friday, October 30, 2026, at the company’s annual Hon Hai Tech Day in Taipei. Liu also had a message for anyone nervously watching AI valuations. He said he does not see an AI bubble. What Foxconn actually said The announcement came after Liu met OpenAI CEO Sam Altman earlier the same day. Liu said Foxconn is developing a new partnership with the AI developer. He did not lay out the scope, the timeline or any financial terms. Liu paired the OpenAI news with a confident outlook for Foxconn itself. He forecast that the company will post double-digit growth next year, pointing to what he sees as durable demand for AI technology. Foxconn has numbers to anchor that optimism. The company currently holds 40% of the global AI server market. It aims to lift that share to 45% in 2027, and research on the company suggests it could potentially reach 50% within a few years. Building on a 2025 deal This is not a first date. In Novem...