Shares of Super Micro Computer jumped 15% on Tuesday after the AI server maker sharply raised its June-quarter profit margin outlook and disclosed a record backlog, indicating that demand for artificial intelligence infrastructure remains robust even as investors continue to scrutinize the sustainability of the AI spending boom.
The company said it now expects gross margin and adjusted gross margin for the fiscal fourth quarter ended June 30 to be between 15% and 17%, nearly doubling the 8.2% to 8.4% range it forecast in May.
Super Micro attributed the improved outlook primarily to a more favorable mix of customers and products, suggesting it is shipping a greater proportion of higher-margin AI systems.
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“The revision is primarily due to a favorable customer and product mix,” the company said in a preliminary business update.
The upbeat forecast sent shares sharply higher in extended trading and lifted other AI infrastructure stocks. Dell Technologies gained about 5%, while Hewlett Packard Enterprise rose roughly 4%, reflecting optimism that enterprise and hyperscale demand for AI servers remains strong across the sector.
The latest update lends credence to the view that spending on AI infrastructure continues to outpace broader enterprise technology investment. Super Micro has emerged as one of the biggest beneficiaries of the generative AI boom by specializing in high-performance servers built around Nvidia’s graphics processing units (GPUs), which are widely used to train and run large language models.
Cloud providers, AI startups, governments and enterprises continue to invest aggressively in expanding computing capacity, fueling demand for servers equipped with Nvidia’s latest Blackwell and Hopper processors.
Chief Executive Charles Liang highlighted the company’s role in some of the world’s largest AI infrastructure deployments. In June, he said on X that Super Micro had helped build another gigawatt-scale AI data center for Elon Musk’s SpaceX and xAI within a year.
Such large-scale deployments have become increasingly common as AI developers race to expand computing capacity to support more powerful models and growing inference workloads.
While profitability expectations improved significantly, Super Micro maintained its revenue outlook, saying fiscal fourth-quarter sales are expected to come in at the lower end of its previously announced guidance range of $11 billion to $12.5 billion.
That still broadly aligns with Wall Street expectations. Analysts surveyed by LSEG were forecasting revenue of $11.67 billion.
More importantly for investors, the company disclosed that its backlog reached an all-time high at the end of fiscal 2026.
Super Micro said it secured more than $60 billion in new orders during the fiscal fourth quarter, providing one of the clearest indications yet that AI infrastructure demand remains exceptionally strong despite concerns over slowing enterprise technology spending elsewhere.
“These new orders are expected to be delivered over future quarters,” the company said.
The sizeable backlog provides significant revenue visibility and suggests customers continue to commit capital for multi-quarter AI infrastructure deployments rather than delaying projects.
The revised margin outlook also indicates that Super Micro is moving beyond the supply-chain and pricing pressures that weighed on profitability earlier in the AI investment cycle. As production constraints ease and customers increasingly purchase integrated, high-performance AI systems instead of lower-margin commodity servers, the company appears to be benefiting from improved pricing power.
Analysts have noted that AI servers typically command significantly higher average selling prices than traditional enterprise servers because they include multiple GPUs, advanced networking equipment and liquid-cooling systems.
The stronger customer mix could also indicate a greater share of sales to hyperscale cloud providers and AI companies deploying large GPU clusters, which generally purchase premium configurations.
Super Micro’s update adds to growing evidence that AI infrastructure remains one of the strongest segments of the technology industry.
While software companies have recently warned that enterprise customers are redirecting budgets toward AI data centers and computing infrastructure, server manufacturers continue to benefit from unprecedented demand.
Nvidia remains the dominant supplier of AI processors powering these systems, while companies such as Super Micro, Dell and Hewlett Packard Enterprise provide the servers, storage and networking equipment needed to deploy them at scale.
The latest results also contrast with recent concerns that AI-related capital spending could moderate after several quarters of record investment. Instead, Super Micro’s record order book suggests many customers are continuing to expand AI capacity well into future quarters.
Investors will receive a fuller picture of the company’s performance when Super Micro reports its fiscal fourth-quarter results and hosts its earnings call on August 11. Management is expected to provide updated guidance on order trends, AI server demand and the outlook for margins.