Why Super Micro Computer Stock Popped 14% Today
Shares of Super Micro Computer (NASDAQ: SMCI) jumped today, continuing a rally sparked by last Monday's strong earnings report, even though there was no company-specific news out on the company stock today. Instead, what seemed to drive the stock higher was a bullish note from Goldman Sachs on Nvidia (NASDAQ: NVDA) and the broader AI hardware industry.
Nvidia and Supermicro have both been big winners in the AI boom so far. Each one is seeing soaring demand for their products, which are well-designed to meet the kind of intense computing needs that large language models like ChatGPT require.
As a result, Supermicro stock finished the session up 14.4%, while Nvidia stock finished up 4.8% on the news.
Source Fool.com
