Posted 3/19/2024, 12:06:22 PM
Super Micro Seeks $2 Billion in Share Sale to Fund Growth Amid AI Server Demand Surge
- Super Micro Computer plans to sell 2 million shares to raise about $2 billion
- The company's shares have more than tripled since January, making an equity sale lucrative
- The gains have outperformed those of Nvidia amid rising demand for AI servers
- However, Super Micro's shares have fallen 16% over the last 3 days
- Proceeds will be used to buy inventory, expand manufacturing, increase R&D investments, and for working capital