Super Micro Computer shares jumped 15% after the computer server company said it’s shipping more than 100,000 graphics processing units used for artificial intelligence per quarter.
That could translate into several billions of dollars of orders if the average price of a GPU is around the cost of Nvidia’s $30,000 chip. The GPU figure was revealed in an announcement about a new cooling product unveiled by Super Micro on Monday.
As one of the biggest beneficiaries of the AI boom, Super Micro makes computers that companies use as servers for data storage, websites, AI training models and more. The company said its new cooling product will allow data centers to spend less on hardware costs and cooling infrastructure for servers that typically need to be running constantly.
Super Micro also said it recently deployed more than 100,000 GPUs with liquid cooling solution “for some of the largest AI factories ever built,” as well as other cloud service providers.
While the announcement was cheered by Wall Street, Super Micro is about nine weeks behind in reporting its annual report, which was expected in August. The company said late that month that management needed additional time “to complete its assessment of the design and operating effectiveness of its internal controls over financial reporting as of June 30, 2024.”
Even after Monday’s rally, the stock is down by well over 50% since peaking in March. Shares fell 12% on Sept. 26, after the Wall Street Journal reported the Department of Justice opened a probe into the company following a report from short-seller Hindenburg Research in which the firm alleged it identified “fresh evidence of accounting manipulation.”