Super Micro Surges Over 240% as AI Compute Leadership Fuels Triple-Digit Growth
-
Super Micro Computer (SMCI) stock has surged over 240% this year due to its leadership position in AI compute market and partnership with Nvidia.
-
SMCI has early access to AI chips from Nvidia and AMD enabling it to rapidly prototype servers for AI applications.
-
SMCI can manufacture, assemble, test and ship a server rack in few weeks if components are available, giving it edge over competitors.
-
Revenue more than doubled in last quarter of 2022 and expected to see triple-digit growth through 2024 on rising demand for AI model training.
-
JPMorgan started coverage on SMCI stock with Overweight rating and $1150 price target by December 2024, seeing continued leadership in high-growth AI server market.