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Graph propagation: NVIDIA GB volume pulls demand directly, while components (e.g., Murata) and power equipment are the upstream supply chain.","analysis_asof":"2026-07-09"},"edges":[{"direction":"revenue","counterparty":"Apple","counterparty_slug":"apple","confidence":"high","metric":{"fy":2025,"yoy_pct":18,"group_rev_ntbn":8100,"ai_server_share_pct":42},"note":"아이폰 등 애플 제품 위탁조립(최대 고객).","note_en":"Contract-assembles iPhones and other Apple products (largest customer).","sources":[{"stance":"confirms","publisher":"Hon Hai Technology Group","publisher_en":"Hon Hai Technology Group","kind":"filing","lang":"en","published_at":"2026-03-01","url":"https://www.honhai.com/en-us/press-center/press-releases/latest-news/1978","title":"Hon Hai(폭스콘) FY2025·4Q25 실적 — 사상 최대·AI서버 42%","title_en":"Hon Hai (Foxconn) FY2025/4Q25 results — record revenue, AI servers 42%","excerpt":"Hon Hai FY2025 매출 NT$8.1조(+18%, 사상 최대); AI서버가 매출의 42%로 소비전자를 추월, 2026 AI서버 출하 2배·AI서버 랙 조립 세계 점유 약 40% 전망.","excerpt_en":"Hon Hai FY2025 revenue NT$8.1tn (+18%, record); AI servers 42% of revenue, surpassing consumer electronics; 2026 AI-server shipments to double with ~40% AI-server rack-assembly share."},{"stance":"mentions","publisher":"CNBC","publisher_en":"CNBC","kind":"research","lang":"en","published_at":"2026-01-05","url":"https://www.cnbc.com/2026/01/05/nvidia-partner-foxconn-revenue-surge-tops-expectations.html","title":"폭스콘 애널리스트 매수 우위(~20-25% 상승여력), 2026 AI서버 2배 전망","title_en":"Foxconn buy-rated (~20-25% upside); 2026 AI-server shipments to double","excerpt":"애널리스트 24곳 중 18곳 매수·비중확대, 목표가 ~20-25% 상승여력 — 2026 하반기 AI서버 가속 기대.","excerpt_en":"18 of 24 analysts buy/overweight, ~20-25% upside, on accelerating AI-server revenue into 2H 2026."},{"stance":"confirms","publisher":"애플","publisher_en":"Apple","kind":"filing","lang":"en","published_at":"2025-01-01","url":"https://www.apple.com/supplier-responsibility/pdf/Apple-Supplier-List.pdf","title":"애플 공급업체 리스트(Hon Hai/Foxconn 포함)","title_en":"Apple Supplier List (includes Hon Hai/Foxconn)","excerpt":"애플 공급업체 리스트에 Hon Hai(폭스콘) 등재 — 애플은 폭스콘 최대 고객(매출의 절반 안팎).","excerpt_en":"Apple Supplier List includes Hon Hai (Foxconn); Apple is Foxconn's largest customer (around half of revenue)."}]},{"direction":"cost","counterparty":"NVIDIA","counterparty_slug":"nvidia","confidence":"high","metric":null,"note":"엔비디아 GPU·GB200 슈퍼칩을 랙 조립용으로 조달.","note_en":"Sources NVIDIA GPUs/GB200 superchips to assemble racks.","sources":[{"stance":"confirms","publisher":"Foxconn","publisher_en":"Foxconn","kind":"ir","lang":"en","published_at":"2026-03-01","url":"https://www.foxconn.com/en-us/press-center/press-releases/latest-news/1557","title":"홍하이(폭스콘), 엔비디아 GTC에서 AI 진척 공개","title_en":"Hon Hai (Foxconn) unpacks AI progress at NVIDIA GTC","excerpt":"폭스콘은 엔비디아 GB200 NVL72 랙 조립 PBR 인증 파트너.","excerpt_en":"Foxconn is an NVIDIA PBR-qualified partner assembling GB200 NVL72 racks."},{"stance":"confirms","publisher":"Hon Hai / TWSE","publisher_en":"Hon Hai / TWSE","kind":"filing","lang":"en","published_at":"2026-03-01","url":"https://www.honhai.com/en-us/investor-relations","title":"홍하이(폭스콘) IR·연차보고서(TWSE)","title_en":"Hon Hai (Foxconn) IR / annual report (TWSE)","excerpt":"폭스콘이 엔비디아 GB200 랙 조립, TWSE 상장사.","excerpt_en":"Foxconn assembles NVIDIA GB200 racks; TWSE-listed."},{"stance":"confirms","publisher":"위키백과","publisher_en":"Wikipedia","kind":"news","lang":"ko","published_at":"2026-01-01","url":"https://ko.wikipedia.org/wiki/폭스콘","title":"폭스콘(홍하이정밀공업)","title_en":"Foxconn (Hon Hai Precision)","excerpt":"폭스콘이 엔비디아 GB200 랙 조립, TWSE 상장사.","excerpt_en":"Foxconn assembles NVIDIA GB200 racks; TWSE-listed."},{"stance":"confirms","publisher":"CNBC","publisher_en":"CNBC","kind":"news","lang":"en","published_at":"2025-12-05","url":"https://www.cnbc.com/2025/12/05/nvidia-partner-foxconn-reports-26percent-revenue-spike-as-ai-boom-continues.html","title":"엔비디아 파트너 폭스콘, AI 붐에 매출 26% 급증","title_en":"NVIDIA partner Foxconn reports 26% revenue spike on AI boom","excerpt":"폭스콘은 엔비디아 GB200 NVL72 랙 조립 PBR 인증 파트너.","excerpt_en":"Foxconn is an NVIDIA PBR-qualified partner assembling GB200 NVL72 racks."},{"stance":"confirms","publisher":"TrendForce","publisher_en":"TrendForce","kind":"research","lang":"en","published_at":"2025-05-05","url":"https://www.trendforce.com/news/2025/05/05/news-microsoft-meta-ramp-up-ai-spend-lifting-nvidias-taiwanese-odm-partners-foxonn-quanta-and-wiwynn/","title":"MS·메타 AI 투자 확대로 엔비디아 ODM 위윈 수혜","title_en":"MS/Meta AI spend lifts NVIDIA ODM Wiwynn","excerpt":"폭스콘이 엔비디아 GB200을 받아 AI서버·랙으로 조립하는 핵심 ODM 파트너.","excerpt_en":"Foxconn is a key NVIDIA ODM partner assembling GB200 into AI servers and racks."}]},{"direction":"investor","counterparty":"궈타이밍 (창업주)","counterparty_slug":null,"confidence":"high","metric":null,"note":"창업주 궈타이밍이 약 12.6% 보유한 대주주.","note_en":"Founder Terry Gou is a major holder at ~12.6%.","sources":[{"stance":"confirms","publisher":"진저우칸 (今周刊)","publisher_en":"Business Today (Taiwan)","kind":"news","lang":"zh","published_at":"2023-09-04","url":"https://www.businesstoday.com.tw/article/category/183027/post/202309040044/","title":"궈타이밍은 훙하이 최대주주인데, 이사 사임 후에도 왜 지분 부족 문제가 없나","title_en":"Terry Gou is Hon Hai's largest shareholder — why his board resignation caused no director-shareholding shortfall","excerpt":"截至今年7月郭台銘持股佔鴻海總發行的普通股股份12.56%，董事長劉揚偉等其餘三位董事合計持股佔0.026%。","excerpt_en":"As of July this year, Terry Gou's holdings accounted for 12.56% of Hon Hai's total issued common shares, while chairman Young Liu and the other three directors together held 0.026%."},{"stance":"confirms","publisher":"훙하이정밀공업 (폭스콘)","publisher_en":"Hon Hai Precision Industry (Foxconn)","kind":"filing","lang":"en","published_at":"2021-04-25","url":"https://www.foxconn.com/s3/reports/shareholders-meetings/2021/%E4%B8%BB%E8%A6%81%E8%82%A1%E6%9D%B1%E5%90%8D%E5%96%AE(EN).pdf","title":"훙하이정밀공업 주요 주주 명단 (기준일 2021.04.25)","title_en":"Hon Hai Precision Industry — List of Major Shareholders (as of Apr 25, 2021)","excerpt":"Gou, Tai-ming (Terry Gou) 1,342,198,518 shares 9.68%; CTBC Hosting Gou, Tai-ming (Terry Gou) Trust Treasury Account 400,000,000 shares 2.89%.","excerpt_en":"Gou, Tai-ming (Terry Gou) held 1,342,198,518 shares (9.68%) directly plus 400,000,000 shares (2.89%) via the CTBC trust account — about 12.6% combined."}]},{"direction":"cost","counterparty":"UBTech","counterparty_slug":"ubtech","confidence":"high","metric":null,"note":"공장 물류에 UBTech 휴머노이드 도입.","note_en":"Deploys UBTech humanoids for factory logistics.","sources":[{"stance":"confirms","publisher":"SCMP","publisher_en":"SCMP","kind":"news","lang":"en","published_at":"2026-01-01","url":"https://www.scmp.com/tech/tech-trends/article/3332372/chinas-humanoid-robots-get-factory-jobs-ubtechs-model-scores-us112-million-orders","title":"UBTech, BYD·지리·폭스콘 공장 수주 $112M","title_en":"UBTech scores $112M factory orders (BYD, Geely, Foxconn)","excerpt":"공장 물류에 UBTech 휴머노이드 도입.","excerpt_en":"Deploys UBTech humanoids for factory logistics."}]},{"direction":"cost","counterparty":"화낙","counterparty_slug":"fanuc","confidence":"high","metric":null,"note":"화낙 관계의 미러: 아이폰 금속 프레임 절삭용 로보드릴 판매: 2014년 폭스콘이 월 약 800대(대당 약 6.2만달러) 구매, 애플·폭스콘 라인 누적 10만대 보도. 스마트폰 프레임 절삭기계 점유율 약 80%.","note_en":"Sells Robodrill CNCs for iPhone frame cutting: Foxconn bought ~800/month at ~$62k each (2014), ~100k units cumulatively on Apple/Foxconn lines; ~80% share in smartphone-frame cutting machines.","sources":[{"stance":"confirms","publisher":"아시아경제","publisher_en":"The Asia Business Daily","kind":"news","lang":"ko","published_at":"2020-10-08","url":"https://www.asiae.co.kr/article/2020100812170614697","title":"日 4차산업혁명 비밀 병기…산업 로봇 세계 1위 '화낙'","title_en":"Japan's secret weapon: world No.1 robot maker FANUC","excerpt":"애플과 폭스콘은 아이폰 생산 공장에 화낙의 절삭 로봇을 10만대나 도입했고, 절삭기계 점유율은 80%에 달한다.","excerpt_en":"Apple and Foxconn deployed 100,000 FANUC cutting machines at iPhone plants; FANUC's cutting-machine share reaches 80%."},{"stance":"confirms","publisher":"슬래시닷","publisher_en":"Slashdot","kind":"news","lang":"en","published_at":"2014-09-20","url":"https://hardware.slashdot.org/story/14/09/20/1651241/why-you-cant-manufacture-like-apple","title":"Why You Can't Manufacture Like Apple","title_en":"Why You Can't Manufacture Like Apple","excerpt":"Foxconn, the Apple supplier, buys 800 programmable Robodrills from Fanuc every month - for about $62,000 each.","excerpt_en":"Foxconn buys 800 programmable Robodrills from Fanuc every month, for about $62,000 each."}]},{"direction":"revenue","counterparty":"알파벳 (구글)","counterparty_slug":"alphabet","confidence":"mid","metric":null,"note":"알파벳 (구글)에 랙스케일 AI 서버 공급.","note_en":"Supplies rack-scale AI servers to alphabet.","sources":[{"stance":"confirms","publisher":"CNBC","publisher_en":"CNBC","kind":"news","lang":"en","published_at":"2025-12-05","url":"https://www.cnbc.com/2025/12/05/nvidia-partner-foxconn-reports-26percent-revenue-spike-as-ai-boom-continues.html","title":"엔비디아 파트너 폭스콘, AI 붐에 매출 26% 급증","title_en":"NVIDIA partner Foxconn reports 26% revenue spike on AI boom","excerpt":"구글 클라우드용 AI 랙 발주.","excerpt_en":"Orders AI racks for Google Cloud."},{"stance":"confirms","publisher":"TrendForce","publisher_en":"TrendForce","kind":"research","lang":"en","published_at":"2025-05-05","url":"https://www.trendforce.com/news/2025/05/05/news-microsoft-meta-ramp-up-ai-spend-lifting-nvidias-taiwanese-odm-partners-foxonn-quanta-and-wiwynn/","title":"MS·메타 AI 투자 확대로 엔비디아 ODM 위윈 수혜","title_en":"MS/Meta AI spend lifts NVIDIA ODM Wiwynn","excerpt":"MS·메타 등 하이퍼스케일러 AI 투자 확대가 폭스콘의 엔비디아 GB200 AI서버 조립 물량을 견인.","excerpt_en":"Hyperscaler AI capex (Microsoft, Meta et al.) lifts Foxconn's NVIDIA GB200 AI-server assembly volume."}]},{"direction":"revenue","counterparty":"마이크로소프트","counterparty_slug":"microsoft","confidence":"mid","metric":null,"note":"마이크로소프트에 랙스케일 AI 서버 공급.","note_en":"Supplies rack-scale AI servers to microsoft.","sources":[{"stance":"confirms","publisher":"CNBC","publisher_en":"CNBC","kind":"news","lang":"en","published_at":"2025-12-05","url":"https://www.cnbc.com/2025/12/05/nvidia-partner-foxconn-reports-26percent-revenue-spike-as-ai-boom-continues.html","title":"엔비디아 파트너 폭스콘, AI 붐에 매출 26% 급증","title_en":"NVIDIA partner Foxconn reports 26% revenue spike on AI boom","excerpt":"애저용 GB200 AI 랙 발주.","excerpt_en":"Orders GB200 AI racks for Azure."},{"stance":"confirms","publisher":"TrendForce","publisher_en":"TrendForce","kind":"research","lang":"en","published_at":"2025-05-05","url":"https://www.trendforce.com/news/2025/05/05/news-microsoft-meta-ramp-up-ai-spend-lifting-nvidias-taiwanese-odm-partners-foxonn-quanta-and-wiwynn/","title":"MS·메타 AI 투자 확대로 엔비디아 ODM 위윈 수혜","title_en":"MS/Meta AI spend lifts NVIDIA ODM Wiwynn","excerpt":"MS·메타 등 하이퍼스케일러 AI 투자 확대가 폭스콘의 엔비디아 GB200 AI서버 조립 물량을 견인.","excerpt_en":"Hyperscaler AI capex (Microsoft, Meta et al.) lifts Foxconn's NVIDIA GB200 AI-server assembly volume."}]},{"direction":"revenue","counterparty":"아마존","counterparty_slug":"amazon","confidence":"mid","metric":null,"note":"아마존에 랙스케일 AI 서버 공급.","note_en":"Supplies rack-scale AI servers to amazon.","sources":[{"stance":"confirms","publisher":"CNBC","publisher_en":"CNBC","kind":"news","lang":"en","published_at":"2025-12-05","url":"https://www.cnbc.com/2025/12/05/nvidia-partner-foxconn-reports-26percent-revenue-spike-as-ai-boom-continues.html","title":"엔비디아 파트너 폭스콘, AI 붐에 매출 26% 급증","title_en":"NVIDIA partner Foxconn reports 26% revenue spike on AI boom","excerpt":"AWS용 GB200 AI 랙 발주.","excerpt_en":"Orders GB200 AI racks for AWS."},{"stance":"confirms","publisher":"TrendForce","publisher_en":"TrendForce","kind":"research","lang":"en","published_at":"2025-05-05","url":"https://www.trendforce.com/news/2025/05/05/news-microsoft-meta-ramp-up-ai-spend-lifting-nvidias-taiwanese-odm-partners-foxonn-quanta-and-wiwynn/","title":"MS·메타 AI 투자 확대로 엔비디아 ODM 위윈 수혜","title_en":"MS/Meta AI spend lifts NVIDIA ODM Wiwynn","excerpt":"MS·메타 등 하이퍼스케일러 AI 투자 확대가 폭스콘의 엔비디아 GB200 AI서버 조립 물량을 견인.","excerpt_en":"Hyperscaler AI capex (Microsoft, Meta et al.) lifts Foxconn's NVIDIA GB200 AI-server assembly volume."}]},{"direction":"cost","counterparty":"Delta Electronics","counterparty_slug":"delta-electronics","confidence":"mid","metric":null,"note":"AI 서버 전원·냉각을 델타에서 조달.","note_en":"Sources AI-server power/cooling from Delta.","sources":[{"stance":"confirms","publisher":"Delta/TWSE","publisher_en":"Delta/TWSE","kind":"filing","lang":"en","published_at":"2026-03-01","url":"https://www.deltaww.com/en-US/Investors","title":"Delta Electronics 회사·IR(TWSE)","title_en":"Delta Electronics company/IR (TWSE)","excerpt":"AI 서버 전원·냉각을 델타에서 조달.","excerpt_en":"Sources AI-server power/cooling from Delta."}]},{"direction":"cost","counterparty":"Murata","counterparty_slug":"murata","confidence":"mid","metric":null,"note":"서버·기기 조립에 MLCC 공급.","note_en":"MLCCs for server/device assembly.","sources":[{"stance":"confirms","publisher":"Delta/TWSE","publisher_en":"Delta/TWSE","kind":"filing","lang":"en","published_at":"2026-03-01","url":"https://www.deltaww.com/en-US/Investors","title":"Delta Electronics 회사·IR(TWSE)","title_en":"Delta Electronics company/IR (TWSE)","excerpt":"서버·기기 조립에 MLCC 공급.","excerpt_en":"MLCCs for server/device assembly."}]},{"direction":"cost","counterparty":"Amphenol","counterparty_slug":"amphenol","confidence":"mid","metric":null,"note":"서버 ODM에 커넥터·케이블 공급.","note_en":"Connectors/cables to server ODMs.","sources":[{"stance":"confirms","publisher":"Delta/TWSE","publisher_en":"Delta/TWSE","kind":"filing","lang":"en","published_at":"2026-03-01","url":"https://www.deltaww.com/en-US/Investors","title":"Delta Electronics 회사·IR(TWSE)","title_en":"Delta Electronics company/IR (TWSE)","excerpt":"서버 ODM에 커넥터·케이블 공급.","excerpt_en":"Connectors/cables to server ODMs."}]},{"direction":"cost","counterparty":"TE Connectivity","counterparty_slug":"te-connectivity","confidence":"mid","metric":null,"note":"서버 ODM에 커넥터·DAC 공급.","note_en":"Connectors/DAC to server ODMs.","sources":[{"stance":"confirms","publisher":"Delta/TWSE","publisher_en":"Delta/TWSE","kind":"filing","lang":"en","published_at":"2026-03-01","url":"https://www.deltaww.com/en-US/Investors","title":"Delta Electronics 회사·IR(TWSE)","title_en":"Delta Electronics company/IR (TWSE)","excerpt":"서버 ODM에 커넥터·DAC 공급.","excerpt_en":"Connectors/DAC to server ODMs."}]},{"direction":"cost","counterparty":"부품·메모리·기판 (비공개)","counterparty_slug":null,"confidence":"low","metric":{"type":"qualifier","value":null,"qualifier":"confirmed_no_disclosed_value"},"note":"서버용 부품·메모리·기판 조달(비공개).","note_en":"Sources server components, memory and boards.","sources":[{"stance":"confirms","publisher":"Hon Hai / TWSE","publisher_en":"Hon Hai / TWSE","kind":"filing","lang":"en","published_at":"2026-03-01","url":"https://www.honhai.com/en-us/investor-relations","title":"홍하이(폭스콘) IR·연차보고서(TWSE)","title_en":"Hon Hai (Foxconn) IR / annual report (TWSE)","excerpt":"AI 서버 조립에 부품·메모리·기판 다수 조달.","excerpt_en":"AI-server assembly sources many components, memory and boards."}]}]}