Hon Hai Precision Industry Co (鴻海精密) has signed a memorandum of understanding (MOU) with Mitsubishi Electric Corp for the development of artificial intelligence (AI) data center solutions, the iPhone assembler said in a statement on Thursday.
Hon Hai, also known as Foxconn Technology Group (富士康科技集團), said that the cooperation with Mitsubishi is intended to bring together the know-how and networks of both companies to facilitate the global supply of energy-efficient and highly reliable AI data center solutions.
“In the future, the two companies aim to jointly create new values, solutions and business models outside the AI data center field by leveraging their knowledge assets in the process of addressing social issues such as sustainability,” Hon Hai said.
Photo: Hon Hai Precision Industry Co
The Taiwanese company is expected to take advantage of the strength of the Japanese firm in power module supply for the development of AI data center solutions, analysts said.
Mitsubishi ranks second globally in market share in power modules, according to statistics released by market information advisory firm OMDIA.
The Japanese firm takes the first spot in market share in the high voltage direct current technology that uses voltage source converters, OMDIA data showed.
Hon Hai has intensified its efforts in AI development in recent years to diversify its product portfolio.
The company’s consolidated sales grew 15.55 percent from a year earlier to NT$6.39 trillion (US$206.2 billion) in the first 10 months of this year. Hon Hai is scheduled to hold an investor conference on Wednesday to detail its third quarter results and give more guidance for the fourth quarter and beyond.
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