TAIPEI (Reuters) -Taiwan’s Foxconn said its board of directors has approved an investment plan to procure equipment for a AI compute cluster and a supercomputing centre, that will allow it to spend up to NT$42 billion ($1.37 billion). Foxconn said the purpose of the plan is “to expand the cloud compute service platform and accelerate the development of the Group’s three smart platforms.” The world’s largest contract electronics maker, also known as Hon Hai Precision Industry Co Ltd, has been stepping up its investments in artificial intelligence and cloud infrastructure as it seeks new growth drivers beyond smartphones and traditional electronics manufacturing.