New York, February 6, 2026, 14:47 EST — Regular session
- Super Micro shares bounce nearly 9% in afternoon action, recouping ground after tumbling the previous day.
- Chipmakers and AI hardware names bounced back, with traders recalculating how much Big Tech is really set to spend.
- Super Micro lifted its revenue outlook, but margin pressure is still front and center for investors.
Super Micro Computer Inc (SMCI.O) clawed back some ground Friday afternoon, with shares rising roughly 9% to $33.76 after tumbling in the previous session.
The server maker now moves like a high-beta proxy, swinging harder than the broader market whenever AI data center spending comes up. Hyperscalers—those big cloud companies—are on its client list, so traders end up watching the stock as a kind of real-time readout on capex sentiment.
That optimism faded Thursday, with investors dumping AI-linked shares after Alphabet revealed plans that might see its capital spending for AI double by 2026. “We’re seeing this volatility about whether this investment will translate, ultimately, into results,” said Tom Hainlin, investment strategist at U.S. Bank Wealth Management. 1
Shares of SMCI swung from $30.56 up to $34.49 on Friday, a notably broad band for the name. By mid-afternoon, trading volume had already cleared 34 million shares.
Chipmakers charged higher, pushing the PHLX semiconductor index up roughly 5.5%. Nvidia and Advanced Micro Devices each climbed around 7%. “There’s enough evidence that there’s real demand for AI products,” said Ross Mayfield, investment strategy analyst at Baird. 2
Stocks managed a rebound, though Amazon lagged after revealing it plans to pour $200 billion into capital spending for 2026—covering data centers, chips, and other infrastructure. Analysts at MoffettNathanson flagged the number as “materially greater than consensus expected,” warning that Amazon’s margin for error is tightening. 3
Super Micro kicked things off this week by bumping its fiscal 2026 revenue projection to at least $40 billion, up from $36 billion, pointing to robust appetite for its AI-optimized servers. “Order strength remains strong from large global data center and enterprise customers,” CFO David Weigand said. Emarketer’s Gadjo Sevilla described Super Micro as “the integrator to large cloud and AI customers.” 4
Revenue landed at $12.68 billion for the quarter ended Dec. 31, with roughly $1.5 billion tied to first-quarter shipments that were pushed back. For the third quarter, the company is guiding to around $12.3 billion in revenue. Tariffs, facility expenses, and tight component supply are all putting pressure on margins, it said.
The stock dropped 8.62% Thursday, landing at $30.85, with more than 56 million shares changing hands, according to MarketWatch data. After bouncing back Friday, shares are still sitting at about half their 52-week peak. 5
For bulls, here’s the risk: AI expansion might end up lining suppliers’ pockets while handing customers a migraine. Should cloud companies pull back on orders or start squeezing prices, Super Micro’s slim margins could get squeezed even more.
Investors want to see revenue forecasts actually drive sustained profits, not just a bump in shipments. In this market, any new capex news will put the stock right back in the spotlight.
Eyes now turn to Nvidia’s quarterly results landing February 25. The update has the potential to shake up forecasts for GPU supply and data-center demand, which in turn could hit server manufacturers including Super Micro. 6
