Super Micro expects first-quarter revenue above estimates

Super Micro Computer reported preliminary quarterly results that surpassed analysts’ estimates, prompting a 12% jump in the company's shares. The server maker forecasted sales of US$18.5 billion to US$19.5 billion for the quarter ended September 30, significantly outpacing the average analyst estimate of US$15 billion. Gross margins are projected to be between 12 and 12.5 percent, according to a company statement released on October 20.

Super Micro's growth can be attributed to the increasing demand for artificial intelligence-related hardware, particularly servers equipped with Nvidia chips, which have become the go-to components for most AI data centers. The company has also been under scrutiny due to a probe alleging that a co-founder and two others allegedly diverted billions of dollars' worth of servers to China in breach of U.S. law.

However, Super Micro has not been charged, and an independent investigation found no evidence that senior management was aware of the alleged scheme. The company scheduled a conference call for November 3 to discuss the results in detail.