Taiwan's Foxconn , the world's largest contract electronics maker, beat expectations to post its highest-ever revenue for the fourth quarter on continued strong demand for artificial intelligence (AI) servers.

Chip stocks surged in intraday trading Monday after Taiwan's Foxconn posted record fourth-quarter revenue, driven by the boom in artificial intelligence (AI) demand.

The Taiwan-listed assembler of Apple and Nvidia products posted record revenue for the fourth quarter, helped by robust demand for servers to power burgeoning artificial intelligence technologies.