Super Micro Raises Revenue Outlook Amid Strong AI Demand
Super Micro Computer (NASDAQ: SMCI) raised its fiscal first-quarter revenue outlook to $18.5 billion–$19.5 billion, up from a previous forecast of $14.5 billion–$15.5 billion, citing strong demand for artificial intelligence data centers. The company also increased its gross margin guidance due to an improved customer and product mix. The revised outlook has driven SMCI shares higher by 13% in premarket trading as investors react positively to the upward revision amid recent concerns over AI-driven spending sustainability. Super Micro recently appointed Mark Long, a former Western Digital executive, as CFO and will release full results on November 3. Market jitters have surrounded rapid AI data-center expansion due to worries about debt-fueled investment and high borrowing costs. However, the update from Super Micro has provided some relief.
Tickers: $SMCI
Topics: AI demand revenue guidance server market stock price movement
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Part of the story Super Micro Computer Raises Revenue Guidance Amid Surging AI Demand (7 articles)