Super Micro Computer Inc (NASDAQ:SMCI) shares are trading lower Tuesday after the company announced a proposed public offering.
What Happened: Super Micro has announced the launch of a proposed underwritten registered public offering of 2 million shares of its common stock. The company expects to grant the underwriters a 30-day window to buy up to an additional 300,000 shares.
The news comes as the stock has rallied more than 250% since the start of the year, largely driven by the company’s positioning in the AI space.
After the market close on Monday, Super Micro announced new AI systems for large-scale generative AI featuring Nvidia Corp’s (NASDAQ:NVDA) next-generation of data center products. ...