TAIPEI – Foxconn is planning to use proceeds from a subsidiary's IPO to fund 7.3 billion yuan ($4 billion) in projects.

MILPITAS, CA – Global 300mm fab equipment spending for front-end facilities is forecast to reach a record $137 billion in 2027 after topping $100 billion for the first time by 2025, SEMI highlighted in its quarterly 300mm Fab Outlook Report to 2027 report.

TÄBY, SWEDEN – Mycronic senior vice president Ivan Li is exiting the company's senior management team to free up the possibility of listing its Axxon subsidiary on a Chinese stock exchange.

LAHTI, FINLAND – Kemppi Group is splitting its electronics business into its own company, Kemptron, to strengthen its position in the electronics industry.

KUALA LUMPUR – Malaysian contract manufacturer Ge-Shen has entered into an agreement to purchase 60% stakes each in Amity Research & Development and Amity Technical Services & Consultancy for RM13.5 million ($2.6 million).

CHEONAN, KOREA – NPD reported revenue of KRW235.7 billion ($176.7 million), down 26% from 2022 total.

ST. PETERSBURG, FL – Jabil announced $6.8 billion in revenue for the second quarter of its fiscal year, a year-over-year decline of 16.8%.

TAOYUAN CITY, TAIWAN – Taiwan Surface Mounting Technology reported revenue of NT46.5 billion ($1.47 billion) for 2023, down 32% from the previous year.

WATERLOO, ON – Apple has acquired artificial intelligence startup DarwinAI as it looks to add technology for a push into generative AI, Bloomberg reported.

TAIPEI – Foxconn saw a 33% year-over-year jump in net profit in the fourth quarter, and said it is optimistic for 2024's prospects due to the increasing demand for AI servers.

HAUPPAUGE, NY – Orbit International announced February bookings in excess of $2 million for its Electronics group, and said deliveries for February orders have already commenced and are expected to continue through the first quarter of 2026.

TAOYUAN, TAIWAN – Inventec reported revenue of NT$128.07 billion ($4.06 billion) for the fourth quarter, a 5% decrease from the previous year.