Foxconn chairman stated plans to invest $2 billion to $3 billion in the field of AI each year.

Chairman of Hon Hai Group, the parent company of Foxconn, Liu Yangwei recently stated that the company plans to invest 2 to 3 billion US dollars annually in artificial intelligence over the next three to five years, which will account for more than half of Hon Hai's annual capital expenditure of about 5 billion US dollars. "Currently, artificial intelligence will be the main focus of investment," Liu Yangwei said. He revealed this information in an interview earlier this month, but it was requested that the interview be published on Friday, the day of Hon Hai Technology Day event. He also predicted that the highly competitive electric vehicle market in China will soon undergo consolidation, and as competition intensifies, car manufacturers may outsource production faster.