Foxconn and TECO Electric & Machinery Co., Ltd. have announced a strategic share exchange agreement to jointly develop AI data center infrastructure. The partnership brings together Foxconn’s experience in AI servers and electronics manufacturing with TECO’s expertise in industrial engineering and green energy solutions.
Under the agreement, TECO will acquire a 0.519% stake in Foxconn, while Foxconn will receive 10% of TECO. The exchange involves new shares and will be completed without cash, pending regulatory approvals by the end of 2025.
Both companies aim to offer end-to-end modular solutions for data centers, including server racks, power systems and electromechanical engineering. Their collaboration targets customers such as major cloud service providers and hyperscalers, with plans to expand across Asia, the Middle East and the US.
Leave a comment