Supermicro stock jumps as server maker lifts revenue forecast

What happened: Supermicro (SMCI) stock jumped 12% in early trading on Wednesday, while peers Dell Technologies (DELL) and Hewlett Packard Enterprise (HPE) gained 5% and 4%, respectively. What's behind the move: The AI server maker raised its fiscal first quarter revenue forecast by $4 billion, signaling stronger-than-expected demand for artificial intelligence infrastructure. Supermicro now expects revenue of $18.5 billion to $19.5 billion for the quarter ended Sept. 30, up from its previous forecast of $14.5 billion to $15.5 billion. The company also raised its gross margin forecast to 12% to 12.5%, compared with its previous outlook of 10.4% to 10.8%, citing a more favorable customer and product mix.