Super Micro cuts first-quarter revenue forecast on delivery delays

(Reuters) -Super Micro Computer trimmed its first-quarter revenue forecast on Thursday, citing a shift in customer delivery schedules for large artificial intelligence deals. Shares of the company fell around 7% after it said "design win upgrades" pushed some expected revenue to the second quarter. The AI server maker said it now expects first-quarter revenue for fiscal year 2026 to be $5 billion, compared with its earlier forecast of between $6 billion and $7 billion. Analysts were expecting $6.52 billion revenue for the quarter ended September 30, according to data compiled by LSEG. Super Micro, however, reiterated its fiscal year 2026 revenue forecast of at least $33 billion, driven by what it described as "robust demand" for its AI solutions. Its stock has risen about 72% so far this year. The company said it has secured new business of more than $12 billion with delivery requested in the second quarter of fiscal 2026. Insatiable demand for servers that provide the computing power needed to run services such as ChatGPT has turned companies such as Super Micro and Dell into big winners of the generative AI boom. "The AI data center market is moving very quickly with customers requesting the leading edge designs. We believe Super Micro is nimble enough to react to customer requests despite the near-term revenue disruptions," Rosenblatt Securities analyst Kevin Cassidy said in a note. Major tech companies, including Alphabet, Amazon.com, Meta, Microsoft and CoreWeave, are on track to spend $400 billion on AI infrastructure this year, according to Morgan Stanley estimates. In August, Super Micro reported weakness in internal control over its financial reporting. The company disclosed in a regulatory filing that unresolved issues could "adversely affect" its ability to report results of operations in a timely and accurate manner. (Reporting by Jaspreet Singh in Bengaluru; Editing by Vijay Kishore)

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