(Reuters) – Tremendous Micro Pc’s inventory jumped nearly 10% to a file excessive in prolonged commerce on Monday, extending its latest AI-fueled rally after the server vendor projected stronger-than-expected quarterly gross sales.
The San Jose, California, firm’s report after the bell additionally lifted shares of Nvidia by 1.2%, including to a 2.3% acquire throughout Monday’s session that noticed the world’s most precious chipmaker shut at a file excessive.
Shares of Tremendous Micro, which counts NASA and Japan’s NEC as clients, had been final buying and selling at $542, including to a 4.5% improve throughout Monday’s session.
In its quarterly report, Tremendous Micro mentioned its March-quarter internet gross sales can be between $3.7 billion and $4.1 billion. That vary was far increased than the consensus analysts estimate of $2.87 billion, in response to LSEG.
Tremendous Micro’s inventory surged 35% on Jan. 19 and helped reignite Wall Road’s rally in AI-related corporations after the corporate pre-reported its December-quarter outcomes nicely above estimates on account of robust demand for AI servers.
Tremendous Micro has greater than tripled since Could 2023 when CEO Charles Liang mentioned the generative “AI momentum has benefited Tremendous Micro drastically.”
(Reporting by Noel Randewich)