Super Micro drops 9% after lining up $7 billion stock sale
What's new: The server maker said it has logged $39 billion in AI server orders from more than 20 customers in recent weeks.
Super Micro Computer shares fell 9% in extended trading Tuesday after the AI server maker set up $7 billion in equity-related financing to fund hardware component purchases. The plan includes $5 billion in underwritten stock offerings and a $2 billion at-the-market offering starting in July through JPMorgan Chase, Goldman Sachs and Citigroup. Investors often punish stock-sale plans because new shares can dilute existing holdings. Super Micro also said it received $39 billion in AI server orders from more than 20 customers in recent weeks, underscoring the surge in demand for AI-ready machines. The company had been up about 39% this year before the after-hours drop.