Super Micro Shares Plunge on AI Server Delay Woes

Super Micro Computer’s stock tumbled more than 9% in premarket trading on Wednesday after the AI-focused server maker missed quarterly profit and revenue expectations, blaming delivery delays caused by last-minute design upgrades.

The California-based company said “design win upgrades” shifted nearly $1.5 billion in first-quarter revenue into the current quarter, after a major customer requested changes to its GPU rack configurations. CEO Charles Liang described the delay as a result of the “complexity of the new GPU racks” that required more time for integration and testing.

Super Micro has been one of the standout players in the AI hardware boom, known for building high-performance servers that power large-scale data centers. Its close partnership with Nvidia has helped it stay ahead of competitors, being among the first to bring new GPU systems like the Blackwell Ultra series to market. These systems have fueled a massive $13 billion order book, placing Super Micro at the heart of the global AI infrastructure race.

Despite the temporary setback, the company raised its full-year revenue outlook to at least $36 billion, up from its previous forecast of $33 billion, signaling confidence in future demand. It also projected second-quarter revenue between $10 billion and $11 billion — well above market expectations of $7.83 billion.

Super Micro’s stock has surged about 56% this year, reflecting strong investor appetite for AI-related growth stories. However, analysts say the company’s aggressive pricing and thin profit margins could test investor patience as competition in the AI server market intensifies.

While the near-term numbers disappointed Wall Street, Super Micro’s long-term position in the fast-growing AI ecosystem continues to draw attention — even as its execution risks become clearer.