(Reuters) – Super Micro Computer shares jumped nearly 10% to a record high on Monday, extending its recent AI-fueled rally after the server seller forecast stronger-than-expected quarterly sales .
The San Jose, Calif. company’s report after the bell also sent Nvidia shares up 1.2%, adding to a 2.3% gain during Monday’s session that saw the world’s most valuable chipmaker close at a record high.
Shares of Super Micro, which counts NASA and Japan’s NEC among its clients, last traded at $542, up 4.5% during Monday’s trading.
In its quarterly report, Super Micro said its net revenue for the March quarter would be between $3.7 billion and $4.1 billion. That range was well above analysts’ consensus estimate of $2.87 billion, according to LSEG.
Super Micro’s stock jumped 35% on Jan. 19 and helped reignite Wall Street’s rally in AI-related companies after the company reported December quarter results well above estimates due to the high demand for AI servers.
Super Micro has more than tripled since May 2023, when CEO Charles Liang said that “AI’s generative momentum has greatly benefited Super Micro.”
(Reporting by Noel Randewich)
