Super Micro Slides Again as $7 Billion AI Financing Fuels Dilution Fears
Super Micro Computer priced 45.45 million shares at $27.50 and depositary shares linked to 7% mandatory convertible preferred stock, aiming to raise up to $7 billion, sending SMCI down 4.7% to $30.46 as investors weigh dilution risk against $39 billion in non-binding AI server orders and await proof these orders convert to profitable revenue without further margin or share count pressure.