Who Foxconn is
Hon Hai Precision Industry (2317.TW), known globally as Foxconn, is the world's largest contract electronics manufacturer: more than 240 sites in 24 countries. It is not on NVIDIA's published power-component list, but foreign brokers named it among the Taiwan partners building Kyber, the 576-GPU rack that 800 VDC exists to feed.
Business mix
Four product segments. By Q2 2026 the weights had inverted from the consumer-electronics company this used to be:
- Cloud and networking — 51% of Q2 2026 sales, the growth engine. AI servers, general servers, and networking. AI-server revenue passed half of all server revenue in 2025 and stayed there.
- Consumer electronics — smartphones and related, 29% in Q2 2026.
- Computing — PCs and notebooks, 15%.
- Components and others — 5% as reported. The strategic piece is larger than that, because a large share of critical CMM is supplied internally and never hits consolidated sales.
Where it sits in the NVIDIA 800 VDC stack
Foxconn is the integrator that physically builds the rack. The more interesting number is how much of the rack it makes itself.
Management now states self-made content above 50%, chips excepted, from Level 1 components through Level 11 system assembly. In an AI rack the non-GPU bill of materials is exactly what 800 VDC changes: busbars — the item NVIDIA says gets 200 kg lighter per rack — plus CDUs, universal quick disconnects, manifolds, and cold plates, all of which Foxconn put into in-house development in 2024 and has kept raising as a share of the cabinet. It also claimed, earlier, 100% share of GPU modules and around half of GPU baseboards.
The 2026 calls date the current NVIDIA cabinet, not the 800V one. Vera Rubin is guided to production readiness in Q3 2026 and shipments in Q4, with a 50% share target, 2027 as the mainstay year, and volume gated by chips. NVIDIA's 800 VDC architecture is written against Kyber in 2027. None of the 2026 calls named 800 V or HVDC.
ASIC racks are the parallel family. Analysts asked about Google TPU on more than one call. Management would not name a customer or a TPU bill of materials. It guided ASIC-server revenue to double in 2026, put 2025 ASIC at about 10% of AI-server sales, and set an ASIC share target of 40% or more — the same band it uses for GPU racks. Consignment is the ASIC default.
On silicon, Foxconn has 1200 V SiC modules for EV drivetrains and a SiC module plant in Hsinchu, with final SiC validation guided to 2026Q4. NVIDIA's whitepaper credits SiC and GaN maturity, driven by the EV industry's move from 400 V to 800 V, as a precondition for 800 VDC in data centers.
Capacity is sized at 2,000 racks a week in 2026, with the United States intended to become the largest AI-server plant, Mexico the volume pair, and Taiwan the R&D / NPI core. Capex is running more than 30% above 2025, including liquid cooling and test.
For Taiwan component vendors this cuts both ways: Foxconn racks need parts, and Foxconn intends to make many of those parts itself.
Coverage note
Six notes, from Q3 2023 through Q2 2026. The 2026 calls restored the missing year; they still do not discuss 800 V.