Super Micro surges on progress hitching its wagon to Nvidia’s rocket ship
The mass proliferation of Nvidia’s Blackwell chip and Super Micro’s server solutions go hand in hand.
The ramp higher in shares of Super Micro Computer continues as traders continue to hope that a rapidly approaching hurdle will be cleared, allowing for rapid growth in revenues as the AI data center boom displays staying power. The company is up double digits as of 11:10 a.m. ET to lead all S&P 500 constituents.
By all accounts, demand for Nvidia’s relatively new Blackwell GPU continues to exceed supply. Super Micro is aiming to hitch its wagon to this chip star by creating server infrastructure to utilize these Blackwell chips in a data center environment. In early February, Super Micro said that its server infrastructure to support these advanced semiconductors had reached full production availability.
All the while, Super Micro’s management has yet to file the necessary reports with the Nasdaq to avoid delisting, with a due date of February 25. Its business update pointed to a relatively sluggish outlook through July, but with guidance for a boom in revenue growth thereafter. For its fiscal 2026 (July 2025 through June 2026), management is targeting revenues of $40 billion, up from about $24.25 billion for the 12 months prior.
If delays in rolling out its infrastructure for Blackwell, rather than the accounting issues swirling around the company, have been the proximate cause for its recently underwhelming sales figures and lackluster near-term forecasts, then the company’s sales outlook may soon be at an all-systems-go inflection point (pardon the pun). After all, through all of Super Micro’s struggles, Nvidia CEO Jensen Huang kept referring to the server company as one of the chip designer’s “great partners.”
“We believe delays in Blackwell availability drove much of its $3-$5 billion cut in its 2025 sales view, and it should recover much of that in 2026,” Bloomberg Intelligence analyst Woo Jin Ho wrote. “Prior to the company's filing challenges, consensus was $34 billion in 2026 sales. Assuming its pipeline of deals stayed intact, baking in the deferred 2025 work implies $37-$39 billion for 2026.”
The consensus forecast for 2026 revenues among analysts polled by Bloomberg currently stands at about $33 billion, though a couple of these estimates are fairly stale.
The stock is on track for its second-best month on record.
