Hon Hai Precision Industry Co., a key partner of Nvidia Corp., has secured a $1.1 billion syndicated loan from banks to fund its expansion into artificial intelligence and high-performance computing. The loan facility will help Hon Hai, also known as Foxconn, capitalize on the booming demand for AI and data center services. The Taiwanese company has been diversifying beyond its core business of assembling electronics for Apple Inc. and other brands. Hon Hai plans to use the funds to invest in AI, high-performance computing, and related fields, as well as for general corporate purposes. The loan underscores Hon Hai’s ambitions in the AI sector, where it aims to become a major player by leveraging its manufacturing expertise and partnerships with tech giants like Nvidia. The AI boom has created opportunities for companies to provide hardware, software, and services to support the rapidly growing demand for AI applications across various industries.