Super Micro Computer Stock Rally Boosted by NVIDIA's Strong Performance in AI Market

Thursday, 23 May 2024, 18:18
Shares of Super Micro Computer (NASDAQ: SMCI) soared 11.3% following Nvidia's exceptional earnings report. Nvidia's substantial growth in AI chip sales signals positive market momentum for Supermicro, known for custom AI-training computers. While the initial enthusiasm waned during the day, Supermicro remains a promising investment with its competitive stock valuation compared to Nvidia.
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Super Micro Computer Stock Rally Boosted by NVIDIA's Strong Performance in AI Market

Market Surge Explained

Shares of Super Micro Computer (NASDAQ: SMCI) surged 11.3% on Thursday morning in response to Nvidia's remarkable earnings report.

Nvidia's Strong Performance

Nvidia reported a 262% sales increase to $26 billion, with its data center segment revenue soaring 427% year over year.

Supermicro's Opportunity

Amid high demand for AI chips, custom AI-crunching computers provided by Supermicro are in a favorable position, reflecting Nvidia's success in the field.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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