Super Micro Computer, a leading U.S. beneficiary of artificial intelligence (AI), saw its stock surge over 16% as the threat of a Nasdaq delisting significantly diminished.
On Tuesday, Super Micro’s shares jumped 16.47% to $55.80 on the New York Stock Exchange, marking an impressive 30.83% increase over the past five trading days.
This dramatic rise follows an update from the company on its efforts to avoid a Nasdaq delisting.
Super Micro announced it plans to submit the required documentation to Nasdaq by the February 25 deadline.
Earlier, CEO Charles Liang revealed that the company had launched server products equipped with NVIDIA’s latest AI-specific chip, Blackwell.
Liang expressed optimism about the company’s future: “We believe there’s potential to reach $40 billion in revenue in the next fiscal year.”
A series of positive developments have fueled the stock’s rally.
Super Micro, a specialist in AI servers and a major AI beneficiary on Wall Street faced a sharp decline last year after activist fund Hindenburg initiated a short sale following allegations of accounting fraud. This placed the company in jeopardy of being delisted from Nasdaq.
With the delisting threat receding, the stock has regained momentum, sparking renewed investor interest.