Super Micro rises as sales forecast fuels AI rally

(Reuters) – Shares of Super Micro Computer rose nearly 10% in extended trading on Monday, extending a recent AI-powered rally after the server vendor forecast stronger-than-expected quarterly revenue.

The San Jose, California-based company’s report after the bell also lifted shares of Nvidia 1.2%, adding to a 2.3% gain in Monday’s session, which saw the world’s most valuable chipmaker closed at a record high.

Shares of Super Micro, which counts NASA and Japan’s NEC as clients, last traded at $542, contributing to a 4.5% gain in Monday’s session.

In its quarterly report, Super Micro said March net sales would be between $3.7 billion and $4.1 billion. That range was much higher than the consensus analyst estimate of $2.87 billion, according to LSEG.

Shares of Super Micro soared 35% on Jan. 19, helping to revive Wall Street’s rally in AI-related companies after the company reported its December quarter results well above expectations on strong demand for AI servers .

Super Micro has more than tripled since May 2023, when CEO Charles Liang said the generative “AI momentum has greatly benefited Super Micro.”

(Reporting by Noel Randewich)

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