What's Going On With Super Micro Computer Stock Thursday?

Super Micro Computer Inc SMCI shares are trading higher Thursday. The stock appears to be moving in sympathy with Nvidia, despite announcing an offering late Wednesday.

NVDA Q4 Earnings: Nvidia reported fourth-quarter revenue of $22.1 billion, which beat the consensus estimate of $20.62 billion. The company reported quarterly earnings of $5.16 per share, which beat estimates of $4.64 per share.

Nvidia guided for fiscal first-quarter revenue of approximately $24 billion, plus or minus 2%, versus estimates of $22.16 billion.

“Accelerated computing and generative AI have hit the tipping point. Demand is surging worldwide across companies, industries, and nations,” said Jensen Huang, founder and CEO of Nvidia.

On the conference call, the Nvidia CEO said he believes every software enterprise company that is deploying software will run on Nvidia AI enterprise software in the future.

Check This Out: Jensen Huang Predicts Every Enterprise On The Planet Will Eventually Run On Nvidia's ‘Operating System For AI'

What Else: Super Micro shares have rallied more than 150% since the start of the year, largely driven by AI optimism. On Tuesday, Super Micro announced that it’s expanding its portfolio of AI solutions to enable customers to leverage the power of AI in edge locations using Super Micro application-optimized servers with Nvidia GPUs.

Late Wednesday, Super Micro announced a proposed offering of $1.5 billion of convertible senior notes due 2029. The company said it expects to use a portion of net proceeds to fund the cost of entering into capped call transactions, as well as for general corporate purposes including funding working capital for growth and business expansion.

SMCI Price Action: Super Micro shares were up 11.5% at $818.50 at the time of publication, according to Benzinga Pro.

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