Super Micro Soars on Margin Expansion and $60B Backlog

Super Micro Computer (SMCI) shares jumped about 20% after hours on a preliminary Q4 update that showed GAAP and non-GAAP gross margins of 15%–17%, well above prior guidance of about 8%, while revenue is expected near the bottom of its $11–$12.5 billion range. The company also disclosed an all-time backlog of roughly $60 billion, signaling a large future delivery pipeline as AI infrastructure demand remains robust. Full fourth-quarter and fiscal 2026 results are due on August 11.