(Reuters) — The stock price of Super Micro Computer spiked more than 10% to reach a record high in premarket trading on Tuesday, continuing its recent surge driven by the demand for AI technology. This surge comes after the server seller forecasted stronger-than-expected quarterly sales. The report, released after the market closed, also contributed to a 1% increase in the shares of Nvidia, on top of a 2.3% gain in Monday’s trading session, which saw the world’s most valuable chipmaker closing at a record high. Super Micro’s shares, which are used by NASA and Japan’s NEC, were last traded at $546.35, following a 4.5% increase in Monday’s session. In its quarterly report, Super Micro announced that its net sales for the March quarter are expected to be between $3.7 billion and $4.1 billion, well above the analysts’ consensus estimate of $2.87 billion, according to LSEG. Super Micro’s stock had previously surged by 35% on Jan. 19 and reignited the rally in AI-related companies on Wall Street after the company reported its December-quarter results, which far exceeded estimates due to the strong demand for AI servers. Super Micro’s stock price has more than tripled since May 2023 when CEO Charles Liang attributed the significant growth to the positive impact of the AI wave on the company. (Reporting by Noel Randewich)
