TECH - Nvidia's Rally Steals Limelight But This Unsung AI-Levered Stock Has Witnessed A 9900% Rocket Ride Since 2007 IPO | Benzinga
Even as major tech players like Nvidia bask in the AI spotlight, Super Micro Computer Inc. (NASDAQ:SMCI) has quietly reaped significant rewards from its exposure to this booming technology. Since the start of 2023, coinciding with the launch of OpenAI’s ChatGPT and the early days of the AI revolution, SMCI shares have skyrocketed.
What Does Super Micro Do? Based in San Jose, California, Super Micro designs and manufactures high-performance server and storage solutions for demanding computational tasks. Notably, 71% of their revenue comes from the U.S., with Asia, Europe, and Others contributing 18%, 8%, and 3%, respectively.
Strong Financials And Optimistic Outlook: In late January, Super Micro reported fiscal-year 2024 Q2 revenue exceeding $3.66 billion, doubling compared to the previous year. Even more impressive, they raised their annual revenue guidance to a staggering $14.3 billion-$14.7 billion, reflecting strong demand for their optimized AI computer platforms.
“While we continue to win new partners, our current end customers continue to demand more of Supermicro's optimized AI computer platforms and rack-scale Total IT Solutions,” said Charles Liang, President and CEO of Super Micro.
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Outperforming Competition: Super Micro’s stock has risen a staggering 183% year-to-date, significantly outperforming both Nvidia’s 46.6% gain and the Philadelphia Semiconductor Index‘s (NASDAQ:SOXX) 8.5% gain. Interestingly, since ...