Super Micro, an AI server manufacturer, announced that gross margins for its June quarter will reach 15% to 17%, nearly double its prior forecast of 8.2% to 8.4%, sending its stock up more than 20% in after-hours trading. While revenue is expected near the lower end of prior guidance at $11 billion（約1.8兆円） to $12.5 billion（約2兆円）, the company's record backlog in the fourth quarter points to strong underlying demand. The gains come amid a Department of Justice investigation into the co-founder over alleged smuggling of servers to China.
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Super Micro said gross margins for the quarter ending in June will be 15% to 17%, nearly double its prior guidance of 8.2% to 8.4%. The stock surged more than 20% in after-hours trading Tuesday.
Why it matters
The sharp margin improvement signals the AI server maker is becoming more profitable even as revenue tracks near the lower end of its $11 billion（約1.8兆円） to $12.5 billion（約2兆円） guidance range. A record backlog in the fourth quarter suggests sustained demand for its products despite recent legal headwinds.
What to watch
In March, the Department of Justice charged the company's co-founder Yih-Shyan "Wally" Liaw over an alleged plan to smuggle U.S.-assembled servers to China—an ongoing legal risk that could affect the company's outlook.
Super Micro, a manufacturer of artificial intelligence servers, announced on Tuesday that its gross margins for the quarter ending in June will reach 15% to 17%—a striking improvement from its prior guidance of 8.2% to 8.4%. The announcement triggered a surge of more than 20% in the company's stock price during after-hours trading.
While the margin guidance more than doubled, revenue expectations remain more modest. Super Micro said revenue is on track to be near the lower end of its prior guidance range of $11 billion（約1.8兆円） to $12.5 billion（約2兆円）. Despite the revenue ceiling, the company reported that its backlog rose to record levels in the fourth quarter, suggesting strong underlying demand for its products.
The positive earnings guidance comes amid legal complications for the company. In March, the Department of Justice charged Super Micro's co-founder Yih-Shyan "Wally" Liaw over an alleged plan to smuggle U.S.-assembled servers to China. This ongoing investigation represents a regulatory risk that could have implications for the company's future operations and leadership.
Super Micro's margin guidance revision marks a significant inflection in the company's profitability trajectory. The jump from 8.2%–8.4% to 15%–17% suggests the AI server maker has achieved meaningful operational leverage or improved pricing power—critical factors for a company riding the wave of AI infrastructure demand. The fact that this improvement comes even as revenue tracks to the lower end of guidance (near $11 billion（約1.8兆円） rather than the $12.5 billion（約2兆円） ceiling) indicates that margin expansion is not simply a product-mix story but reflects genuine efficiency gains or cost management.
However, the company faces a material legal headwind. The Department of Justice's March charge against co-founder Yih-Shyan "Wally" Liaw for alleged server smuggling to China introduces regulatory risk that could affect supply chains, export permissions, or leadership continuity. The record backlog signals that current demand remains robust, but any escalation of the DOJ investigation or trade restrictions could disrupt Super Micro's ability to fulfill that backlog or maintain its newfound margin profile.
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