2024

<p>Hardware and data providers are reaping immense benefits from the ongoing rush in the AI market. This is unarguably evident in the recent earnings reports and projections of major companies like Nvidia.</p>
<h2 class="wp-block-heading" id="ai-is-fueling-demand-for-chipmakers-and-it-solutions-providers">AI is Fueling Demand for Chipmakers and IT Solutions Providers</h2>
<p>Over the past year, we have seen more businesses and organizations implementing AI solutions across various industries as tools like ChatGPT became popular, showcasing the potential of AI.&nbsp;</p>
<p>The outcome has been a greater demand for specialized hardware and data as more companies invest heavily in AI research, development, and infrastructure.</p>
<p>The new-found demand is translating to significant growth for the providers, with some, like Super Micro Computer, outperforming consensus estimates.&nbsp;</p>
<h2 class="wp-block-heading" id="super-micro-q2-revenue-soars-133">Super Micro Q2 Revenue Soars 133%</h2>
<p>Earlier this week, Super Micro Computer, which provides computing, storage, and networking solutions, released its Q2 fiscal year 2024 earnings, reporting a 133% jump in revenue for its fiscal second quarter of 2024 at an EPS of $5.59, totalling $3.66 billion.</p>
<p>The reported figure beats both the company’s own estimate and that of analysts. Per reports, analysts had an estimate of an EPS of $4.51 per share on revenue of $2.8B, which Supermicro itself predicted an EPS between $5.40 and $5.55 per share.</p>
<p>For the next quarter, the company projects net sales of around $3.7 billion and $4.1 billion, i.e., an EPS of around $5.20 to $6.01.&nbsp;</p>
<p>Although the figures surpass the EPS of $4.35 and $2.93 billion revenue forecasted by analysts, it’s not far-fetched considering the trend in the AI market.&nbsp;</p>
<p>The AI market is expected to continue growing rapidly in the coming years. Innovation in AI chips and data centre technologies is expected to accelerate, leading to even more opportunities for chipmakers and data solution providers in the market.&nbsp;</p>

Supermicro Beats Q2 Estimates as AI Rush Intensifies

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