Posted 3/19/2024, 1:06:00 PM
Super Micro Plans $2 Billion Share Sale to Fund Growth After Stock Triples
- Super Micro Computer plans to sell 2 million shares that could raise around $2 billion, sending its stock price down 11%
- Super Micro shares have more than tripled since January, making the equity sale a lucrative funding option
- The company's servers optimized for AI and its liquid cooling technology have made it a key data center provider
- Super Micro was recently added to the S&P 500 index, meaning ETFs tracking the index must now own its shares
- Proceeds from the share sale will be used to buy inventory, expand manufacturing, increase R&D investments, and for working capital