Key Nvidia Corp. partner Hon Hai Precision Industry Co. reported a 29.7% increase in April revenue, underscoring persistently strong spending on hardware essential for AI.

Sales in April reached NT$832.1 billion ($26.3 billion). Analysts on average are expecting Hon Hai’s June-quarter revenue to grow 30.4%. The company expects its second-quarter sales to grow sequentially and year-over-year, according to a statement on Tuesday.