AI Server Orders Surge: Super Micro Computer's Backlog Exceeds $60 Billion, Shares Jump 15% Pre-Market

Super Micro Computer (SMCI-US), a leading global manufacturer of AI servers, announced on Tuesday (21st) that new orders for its fiscal quarter ending in June surpassed $60 billion, setting a historic record. The news propelled the company's stock to surge over 15% during Wednesday's pre-market trading, underscoring the robust momentum in the AI infrastructure market.

In this preliminary financial update, Super Micro significantly raised its profitability outlook. The company now expects gross margins and adjusted gross margins for the June quarter to range between 15% and 17%, nearly doubling from the previous May forecast of 8.2% to 8.4%. Super Micro attributed the significant margin improvement primarily to a 'favorable customer and product mix.'

Despite the staggering order volume, the company anticipates that June quarter revenue will land at the lower end of its prior financial guidance ($11.0 billion to $12.5 billion). However, this $60 billion backlog will be shipped over multiple quarters, providing exceptionally high visibility for future performance.

While Super Micro did not name specific customers in the report, the market widely believes that SpaceX AI, under Elon Musk, is the primary source of these massive orders. Super Micro's CEO, Charles Liang, previously confirmed on the X platform that the company is supplying server rack systems with top-tier NVIDIA (NVDA-US) GPUs for SpaceX AI's large-scale AI data center project.

Prominent financial commentator Jim Cramer noted that Super Micro's performance is an excellent positive signal for overall server demand and predicted that Dell's future results would also be very strong.

Despite the recent strong order performance, Super Micro still faces some negative factors. The company has incurred significant capital requirements to meet hardware inventory demands. Additionally, an employee was arrested for allegedly violating U.S. export controls by illegally shipping NVIDIA chips to China, triggering regulatory investigations and causing stock price volatility.

Nevertheless, with AI server demand remaining strong, technical indicators show the stock has recently begun to recover, and short-term traders are closely watching for the release of its official earnings report.