Super Micro Computer, one of the hottest AI plays alongside Nvidia, tanks 10% on share offering

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Shares of Super Micro have surged by more than 900% over the past year as Wall Street looks for stocks to play the AI trend.

The logos of Super Micro Computer are pictured at one of the world's largest computer and technology trade shows in Taipei, Taiwan, on May 30, 2023.dropped on Tuesday after the company announced a new share offering, taking a bite out of one of the biggest rallies tied to the AI boom.Tuesday morning that it plans to sell 2 million additional shares of common stock, pushing its total shares outstanding to over 58 million.

Super Micro Computer, a computer infrastructure company, has become one of the biggest winners of Wall Street's appetite for AI investments. Its stock has surged more than 900% over the past year prior to Tuesday's decline, outpacing evenGoldman Sachs is the underwriter for the new share offering. Goldman also has an option to purchase up to 300,000 additional shares of Super Micro within the next 30 days.

Source: News Formal (newsformal.com)

 

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