Supermicro Reports More Than $60 Billion in AI Server Orders and Raises Margin Guidance

Overview

• Supermicro said its fiscal fourth quarter included over $60 billion in new AI server orders, creating a record backlog that management says carries into fiscal 2027.
• The company raised preliminary gross margin guidance to 15%–17%, roughly double earlier forecasts and a key reason investors took notice.
• Management announced a $7 billion equity-related financing to buy parts needed to fulfill orders and to support rapid production ramp-up.
• Supermicro warned that portions of the $60 billion order total are not firm and could face cancellations or delays, and the preliminary figures have not yet been audited.
• Investors pushed the stock about 6% higher but remain cautious because an independent board review of export-control related transactions and the August 11 audited earnings report are the next steps that will test convertibility of the backlog and the sustainability of improved margins.