Super Micro shares jumped 15% after the computer server company said it's shipping more than 100,000 graphics processing units used in artificial intelligence per quarter.
As one of the biggest beneficiaries of the AI boom, Super Micro makes computers that companies use as servers for data storage, websites, AI training models and more.shares jumped 15% after the computer server company said it's shipping more than 100,000 graphics processing units used for artificial intelligence per quarter.That could translate into several billions of dollars of orders if the average price of a GPU is around the cost of Nvidia's $30,000 chip.
While the announcement was cheered by Wall Street, Super Micro is about nine weeks behind in reporting its annual report, which was expected in August. The company said late that month that management needed additional time"to complete its assessment of the design and operating effectiveness of its internal controls over financial reporting as of June 30, 2024."
Even after Monday's rally, the stock is down by well over 50% since peaking in March. Shares fell 12% on Sept. 26, after theTensions rise between banks and tech companies over online fraud liability in the UK
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