Flex is a contract electronics manufacturer and product company that designs and builds complex infrastructure and electronics for the industrial, technology, and healthcare sectors. The company operates through three segments: Cloud and Power Infrastructure (CPI), Integrated Technology Solutions (ITS), and Regulated Manufacturing Solutions (RMS). CPI provides integrated compute systems, power infrastructure, and advanced liquid cooling for AI data centers. Flex intends to spin off CPI into a standalone public company in early 2027, as this segment produces proprietary products and functions under an OEM-like model. ITS manages contract manufacturing for communications and consumer lifestyle products, while RMS provides precision manufacturing for the automotive, healthcare, and industrial markets. Flex generates revenue by providing end-to-end manufacturing and supply chain services, typically charging for material costs plus a manufacturing margin. In its cloud and data center business, Flex increasingly utilizes consignment-like contracts where customers supply their own components and Flex provides integration and manufacturing services. This model reduces the value of components in reported revenue but improves margins. Flex maintains a global manufacturing footprint of over 100 facilities across 30 countries to support customer regionalization needs. Following the CPI spin-off, the company plans to focus on factory efficiency and growth in regulated sectors.