SpaceX built AI data centers in 91 days with Supermicro

What happened

Wall Street analysts noted that SpaceX, which raised $86 billion（約14兆円） in its recent initial public offering, is renting out excess computing power to rival AI companies and has built its massive Colossus 1 and 2 AI data centers in just 122 days and 91 days, respectively. Supermicro, a server maker, was the key partner in achieving these record construction timelines, with one major customer (believed to be xAI, now SpaceX) accounting for 63% of Supermicro's revenue in its December quarter.

Why it matters

SpaceX's fresh capital and stated intention to continue building computing infrastructure suggest ongoing large orders for Supermicro's low-power, customized server racks. Unlike other semiconductor vendors benefiting from SpaceX's buildout, Supermicro trades at a reasonable valuation of 18 times trailing earnings and 75% below its all-time highs, making it potentially more attractive to investors who believe the partnership will drive future demand.

What to watch

Supermicro's gross margins increased 3.6 percentage points from its December quarter to 9.9% in its March quarter, suggesting the company may be recovering from earlier pressure on profitability. The SpaceX partnership could provide Supermicro with a reputational boost to charge higher prices to other customers and improve margins through increased manufacturing utilization.