(Portal) – Shares of Super Micro Computer jumped over 10% to a record high in premarket trading on Tuesday, extending its recent AI-powered rally after the server seller forecast stronger-than-expected quarterly sales.
The San Jose, California-based company's report after the bell also sent shares of Nvidia up 1%, adding to a 2.3% gain during Monday's session, which saw the world's most valuable chipmaker rise closed at a record high.
Shares of Super Micro, whose clients include NASA and Japan's NEC, were last trading at $546.35, up 4.5% during Monday's session.
In its quarterly report, Super Micro said its March quarter net sales would be between $3.7 billion and $4.1 billion. According to LSEG, this range was well above analysts' consensus estimate of $2.87 billion.
Shares of Super Micro rose 35% on Jan. 19, helping to reignite the rally in AI-related companies on Wall Street after the company pre-announced its December quarter results due to due to the strong demand for AI servers were significantly higher than estimates.
Super Micro has more than tripled since May 2023, when CEO Charles Liang said the generative “AI dynamics have helped Super Micro a lot.”
(Reporting by Noel Randewich)