Foxconn sees limited impact from China rare earths curbs for now

Taiwan's Foxconn, the world's largest contract electronics maker, sees little impact for now from China's newly announced rare earths curbs, Chairman Young Liu said on Wednesday.

"If the ongoing restrictions continue to escalate tensions, it will impact industries across the board, not just Foxconn," Liu told reporters in Taipei. "In the short term, the current impact is likely limited."

China dramatically expanded its rare earths export controls last week, adding five new elements and extra scrutiny for semiconductor users as Beijing tightens control over the sector.

Foxconn is Nvidia's biggest server maker and Apple's top iPhone assembler. It has been riding the wave of the AI boom and reported earlier this month record third-quarter revenue.

Liu also said that he had recently met with OpenAI CEO Sam Altman and discussed future cooperation. He did not give details.