Foxconn to spend up to $3 billion a year on AI, chair sees China EV shakeout

Foxconn will invest $2 billion to $3 billion a year in AI, the head of the world’s largest contract electronics maker told Reuters.

Foxconn Chairman Young Liu also said he expects a shakeout in China’s crowded electric-vehicle market “soon” and that the company is talking with the Japanese government about potential investments in artificial intelligence and EVs.