Nvidia CEO Jensen Huang and Super Micro Computer Charles Liang at the Computex conference in Taipei, Taiwan, on June 5, 2024.” src=”https://s.yimg.com/ny/api/res/1.2/My9yFg1WldOBJn.EZ.sbsA–/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTY0MA–/https://media.zenfs.com/en/investopedia_245/0ad6078b1e5dce17c6d5f8e93bfbc3e4″ data-src=”https://s.yimg.com/ny/api/res/1.2/My9yFg1WldOBJn.EZ.sbsA–/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTY0MA–/https://media.zenfs.com/en/investopedia_245/0ad6078b1e5dce17c6d5f8e93bfbc3e4″>
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Super Micro Computer Stock Surges as AI-Related Shares Gain
Annabelle Chih / Bloomberg / Getty Images
Nvidia CEO Jensen Huang and Super Micro Computer Charles Liang at the Computex conference in Taipei, Taiwan, on June 5, 2024.
Key Takeaways
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Super Micro Computer shares rose over 6% Monday as some stocks tied to artificial intelligence (AI) gained.
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The company has benefited from the AI boom as it makes tech for data centers and is an Nvidia partner.
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Vanda Research analysts have said that Super Micro Computer may appeal to investors worried that “the peak of retail bullishness” for Nvidia has passed and are looking for “AI proxies.”
Super Micro Computer (SMCI) shares surged Monday as some artificial intelligence (AI) related stocks gained to start the week.
The stock gained more than 6% to close at $899.34. Super Micro shares have more than tripled year-to-date.
Super Micro Computer, which makes server technology and hardware used in data centers, has been a major beneficiary of the AI boom. As an Nvidia (NVDA) partner, Super Micro shares in some of the gains of the market’s AI darling, and its hardware is found in some Nvidia data center technology—including that used by Elon Musk’s AI company, xAI.
Vanda Research analysts have suggested that Super Micro Computer, alongside Advanced Micro Devices (AMD) and Taiwan Semiconductor Manufacturing Company (TSM) as “AI proxies” that some investors may turn to if they feel Nvidia has reached “the peak of retail bullishness.”
Nvidia’s shares rose Monday, lifted by the bullishness of some Wall Street analysts’ outlooks. AMD advanced nearly 4%, while TSMC rose more than 1%. AI optimism also boosted shares of Corning on Monday.
Read the original article on Investopedia.
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