(Bloomberg) — Super Micro Computer Inc. shares rose more than 15% in extended trading after the server maker issued preliminary quarterly results saying its order backlog rose to a record in excess of $60 billion.
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Fiscal fourth-quarter revenue will fall on the low end of the previous guidance of $11 billion to $12.5 billion, Super Micro said Tuesday in a statement.
Sales have surged for Super Micro’s servers fitted with Nvidia Corp. chips for artificial intelligence workloads. But the shares have declined 13% this year through the close, including a 28% fall on a single day last month after the company announced a plan to raise $7 billion through a package of equity offerings.
The company has been working to get costs under control after spending to rapidly get those servers into customers’ hands and win business in a growing AI market. Super Micro said gross margin would be in the range of 15% to 17%, which is better-than-forecast and a sign the company is making progress selling more profitable products.
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