Why Super Micro Computer Stock Soared on Thursday Morning
Shares of Super Micro Computer (NASDAQ: SMCI) soared as much as 11.3% higher on Thursday morning, following a fantastic earnings report by chip designer Nvidia (NASDAQ: NVDA). Supermicro investors saw Nvidia's success story as a good sign, since high demand for artificial intelligence (AI) accelerator chips translates into strong sales of custom AI-crunching computers.
The enthusiasm faded somewhat later in the day, and Supermicro's stock was up by 2.1% at 1 p.m. ET. Any uptick after a 52-week gain of 438% looks like good news, though.
The leader in AI chip design saw sales rise 262% year over year to $26 billion. Its data center segment's revenue surged even faster, clocking a 427% gain over the same period.
Source Fool.com
