July 21 (Reuters) – Super Micro Computer said on Tuesday it expects to post fourth-quarter gross margins above its previous forecast, driving its shares up 16% in after-hours trading.
AI infrastructure firms have seen accelerated demand as tech companies and cloud providers ramp up investments in data centers to support large language models and other AI applications.
The AI server maker secured more than $60 billion in orders in the fourth quarter ended June 30, it said in a preliminarily statement of results.
Super Micro anticipates gross margins in the range of 15% to 17% for the quarter, well above its earlier its forecast of 8.2% to 8.4%, “primarily due to a favorable customer and product mix.”
It expects to report quarterly revenue near the low end of its projection of $11 billion to $12.5 billion. Analysts expect revenue of $11.67 billion, according to data complied by LSEG.
The company is set to post quarterly results on August 11.
Super Micro in June said it would raise $7 billion through a series of equity and equity-linked financing transactions and use proceeds to fulfill orders worth about $39 billion for its advanced AI servers from more than 20 customers.
(Reporting by Juby Babu in Mexico City; Editing by Shailesh Kuber)
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