Super Micro Computer Shares Surge on Record $60 Billion Backlog

Shares of Super Micro Computer, Inc. surged over 20% on July 22, 2026, following a preliminary business update that revealed record demand for its artificial intelligence infrastructure. The company reported receiving more than $60 billion in new orders during the fourth quarter of fiscal 2026, driving its order backlog to record levels.

Super Micro revised its projected gross and adjusted gross margins for the quarter ended June 30 to between 15% and 17%, a significant increase from the previous estimate of 8.2% to 8.4%. Management attributed this growth to a favorable product mix, specifically the high demand for servers equipped with Nvidia graphics processing units. Despite these gains, the company expects revenue for the period to land near the low end of its $11.0 billion to $12.5 billion guidance range.

CEO Charles Liang also announced a partnership to co-build a Gigawatt AI datacenter for SpaceXAI, the entity formed after SpaceX acquired xAI. While Needham & Company LLC raised its price objective for the stock to $46.00, other headwinds emerged. Goldman Sachs expressed skepticism regarding the long-term stability of the business model, and the United States International Trade Commission is reportedly conducting a patent probe into the company's memory imports. Full quarterly results are scheduled for release on August 11.