---
title: "Hon Hai forms a stock swap alliance with Delta Electronics, and Goldman Sachs is optimistic about the former's AI revenue doubling next year!"
type: "News"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/250995201.md"
description: "Goldman Sachs pointed out that this cooperation is expected to enhance Hon Hai's overall competitiveness in the AI server field, with Hon Hai's AI server business revenue expected to grow by 110% and 59% year-on-year in 2025 and 2026, respectively. In addition, Goldman Sachs maintains a \"Buy\" rating on Hon Hai, with a target price of NT$242, representing a 41.1% upside potential compared to the current price"
datetime: "2025-07-31T12:07:04.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/250995201.md)
  - [en](https://longbridge.com/en/news/250995201.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/250995201.md)
---

> 支持的语言: [English](https://longbridge.com/en/news/250995201.md) | [繁體中文](https://longbridge.com/zh-HK/news/250995201.md)


# Hon Hai forms a stock swap alliance with Delta Electronics, and Goldman Sachs is optimistic about the former's AI revenue doubling next year!

Hon Hai and TECO Electric have reached a strategic cooperation to jointly expand the AI data center market, with Goldman Sachs and Morgan Stanley both optimistic about Hon Hai's AI server business prospects.

According to news from the Chasing Wind Trading Desk, Goldman Sachs stated in its latest report that **this cooperation will significantly enhance Hon Hai's competitiveness in the AI server field, with expected revenue growth of 110% and 59% year-on-year in 2025 and 2026, respectively.** At the same time, it maintains a "buy" rating for Hon Hai, with a target price of NT$242, indicating a potential upside of 41.1% from the current level.

Morgan Stanley is also optimistic about Hon Hai, **stating that this cooperation marks a new milestone for Hon Hai in AI data center infrastructure projects, and it is expected that Hon Hai will enhance its capabilities in providing full-stack solutions for AI data centers, although the short-term contribution to performance will be limited.**

According to yesterday's article, Hon Hai announced a strategic cooperation with TECO Electric, where both parties will work together to create a one-stop overall solution for AI data center infrastructure, integrating Hon Hai's advantages in AI servers and TECO's expertise in electromechanical engineering.

Analysts indicate that this transaction is a non-cash deal, expected to be completed in the fourth quarter of 2025, pending regulatory approval. Upon completion, Hon Hai will hold a 10% stake in TECO, while TECO will hold a 0.519% stake in Hon Hai.

## The AI server market has broad prospects, and this cooperation will strengthen Hon Hai's competitiveness

Goldman Sachs analysis indicates that Hon Hai's cooperation with TECO Electric will significantly enhance its competitive advantage in the AI server field.

> **By integrating Hon Hai's expertise in AI server components, design, and assembly with TECO's experience in electromechanical engineering, both parties will be able to provide standardized and modular data center construction solutions to meet customers' rapid deployment requirements for generative AI.**

It is noteworthy that TECO's U.S. operations are branded as TECO-Westinghouse, which aligns closely with Hon Hai's strategy to expand its manufacturing business in the U.S. However, management emphasizes that this cooperation will target a broader market, including regions such as Asia, the Middle East, and the United States.

According to Goldman Sachs' market forecast data, the global server market is showing strong growth, with significant potential in the AI server market.

> General server shipments are expected to achieve year-on-year growth of 9% and 2% in 2025 and 2026, respectively, **while AI training server shipments are expected to achieve higher growth rates of 27% and 40%.** The proportion of AI servers in total revenue is expected to increase from 49% in 2024 to 54% in 2025 and 60% in 2026.

Goldman Sachs expects Hon Hai's AI server revenue to achieve year-on-year growth of 110% and 59% in 2025 and 2026, respectively, with AI server revenue expected to grow from NT$1.7 trillion in 2025 to NT$2.6 trillion in 2026, and the proportion of AI server revenue in total revenue is expected to increase from 21% in 2025 to 29% in 2026

### 相关股票

- [Hon Hai Precision Industry Co., Ltd. (HNHPF.US)](https://longbridge.com/zh-CN/quote/HNHPF.US.md)

## 相关资讯与研究

- [Foxconn invests $287M in Vietnam unit Fulian Precision Technology Component](https://longbridge.com/zh-CN/news/280719752.md)
- [Hon Hai's US Unit Buys Foxconn Assembly for $296 Million; Shares Drop 3%](https://longbridge.com/zh-CN/news/281130288.md)
- [Globus Maritime director Georgios Feidakis buys $0.8 million common shares](https://longbridge.com/zh-CN/news/281418844.md)
- [BUZZ-Gambling firm Cirsa drops after Blackstone sells part of its stake](https://longbridge.com/zh-CN/news/281317988.md)
- [Why Nvidia And Tesla Are Suddenly Knocking On Samsung's Door](https://longbridge.com/zh-CN/news/280999748.md)