FILE PHOTO: Logos of Super Micro Computer are pictured at COMPUTEX Taipei, one of the world's largest computer and technology trade shows, in Taipei, Taiwan May 30, 2023. REUTERS/Ann Wang/File PhotoSuper Micro Computer disclosed on Tuesday it will sell 2 million shares that could fetch about $2 billion, sending the artificial intelligence server maker's shares 9 per cent lower in trading before the bell.
The gains have outperformed those in Nvidia, which has been behind the relentless AI-led rally in Wall Street this year, thanks to soaring demand for its servers used in artificial intelligence data centers. Proceeds from the stock sale will be used to purchase inventory, expand manufacturing capacity, increase research and development investments and other working capital purposes, the company said in a regulatory filing with the U.S. Securities and Exchange Commission.
Source: Digital Coin News (digitalcoinnews.net)
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