Super Micro Computer

Sources - 25

Every claim above cites one of these, or states the reasoning that derived it. The quote is frozen at the date it was read: a link can rot, and an agent fetch returns a reading of a page rather than the page. Backs counts the whole claim ledger, so it can name a claim this page does not surface.

1. S01primarycompany filing2026-08-31
   Form 10-K for fiscal year ended June 30, 2026
   the audited statements, supplier and customer concentration, the related-party arrangements, the export-control investigation, the segment answer, and the absence of any backlog disclosure
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2. S02primarycompany filing2026-08-11
   Fourth quarter and full fiscal year 2026 results release, 8-K Exhibit 99.1
   the quarterly income statement and cash flow statement, the fiscal 2027 revenue guide, the Q1 guide with its 745 million diluted share count, and the preferred dividend line
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3. S03primarytranscript2026-08-11
   Q4 fiscal 2026 earnings call transcript
   the Q1 gross margin guide of 10.4% to 10.8%, management's split of the Q4 margin between mix and one-offs, the AI mix by quarter, and nine analyst questions including two on working capital and inventory risk
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4. S04primarycompany filing2026-07-21
   Preliminary business update for Q4 fiscal 2026, 8-K Exhibit 99.1
   the original Q4 gross margin guidance of 8.2% to 8.4%, and the company's own characterisation of the $60 billion of orders
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5. S05primarycompany filing2026-06-11
   424B5 prospectus supplement, common stock offering
   the $27.50 offering price, the concurrent preferred and at-the-market offerings, and the stated use of proceeds against roughly $39 billion of orders from more than 20 customers
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6. S06primarycompany filing2026-08-05
   8-K, initial dividend declared on the 7.00% Series A Mandatory Convertible Preferred
   the declared dividend per preferred share, which fixes the annual cost of the preferred ahead of the common
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7. S07primarycompany filing2026-03-16
   Dell Technologies Form 10-K for fiscal year ended January 30, 2026 DELL
   a competitor's own AI-server revenue and segment operating margin, and its treatment of non-cancelable manufacturing orders as disclosed backlog
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8. S08primarycompany filing2026-02-25
   NVIDIA Form 10-K for fiscal year ended January 25, 2026 NVDA
   the supplier's own gross margin and Compute & Networking revenue, and its statement that it delivers its platform as rack-scale systems
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9. S09primarycompany filing2025-12-18
   Hewlett Packard Enterprise Form 10-K for fiscal year ended October 31, 2025 HPE
   confirmation that Server is a reportable segment selling the same product to the same buyer, for the cohort test
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10. S10primarycompany filing2026-09-02
    Cisco Systems Form 10-K for fiscal year ended July 25, 2026 CSCO
    that Cisco reports servers only inside its Networking product category and never sizes them, which is why it sits beside the cohort rather than in it
    read, but no claim rests on it
11. S11primaryindustry data2026-06-11
    IDC Worldwide Quarterly Server Tracker, 1Q26 press release IDC
    an independent measurement of who is actually winning share, the size of the market, and the fact that unit growth was 3.3% while spending grew 30.7%

    The worldwide server market reached $122.6 billion in vendor revenue in the first quarter of 2026, growing 30.4% year over year... GPU accelerated servers generated $68.9 billion (+24.8% YoY), representing 56.2% of total market revenue... 1. Dell Technologies $20,280.8M 16.5% $5,893.3M 6.3% +244.1% 2. Super Micro $9,331.0M 7.6% $4,075.8M 4.3% +128.9% ... ODM Direct $61,537.9M 50.2% $60,278.9M 64.1% +2.1% ... Total $122,617.8M 100.0% $94,066.4M 100.0% +30.4%. Source: IDC Worldwide Quarterly Server Tracker, June 11, 2026... the worldwide server market delivered 30.7% spending growth in the first quarter of 2026 while unit growth was modest at 3.3% year over year.

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12. S12primaryindustry data2025-12-11
    IDC Worldwide Quarterly Server Tracker, 3Q25 press release IDC
    the quarter in which SMCI's revenue fell while the market grew 61.1%, and the ODM Direct share peak of 59.4%

    Supermicro reached the second place with 4.0% revenue share even though declining 13.2% compared to 2024Q3... 2. Super Micro $4,498.11 4.0% $5,179.34 7.4% -13.2% ... ODM Direct $66,790.83 59.4% $31,473.73 45.1% 112.2% ... Total $112,444.59 100.0% $69,786.29 100.0% 61.1%. Source: IDC Worldwide Quarterly Server Tracker, December 11, 2025.

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13. S13primarygovernment data2026-01-13
    EIA press release: EIA forecasts strongest four-year growth in U.S. electricity demand since 2000, fueled by data centers EIA
    the driver's rate measured by somebody with no stake in the server market

    EIA expects U.S. electricity use to grow by 1% this year and 3% in 2027. This increase would mark the first time since 2007 that power demand has risen for four years in a row and the strongest four-year growth period since 2000. The driving factor behind this surge is increasing demand from large computing centers. FOR IMMEDIATE RELEASE January 13, 2026.

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14. S14primaryother2025-11-19
    NVIDIA DGX SuperPOD reference architecture featuring DGX GB200 NVDA
    the supplier publishing the rack layout and wiring of the thing SMCI says it differentiates on

    The RA also includes details regarding the SU design and specifics of InfiniBand, NVLink network, Ethernet fabric topologies, storage system specifications, recommended rack layouts, and wiring guidelines.

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15. S15primaryvendor data2026-09-09
    Research pack, frozen at content/SMCI/research-pack.json
    price, the 20-day range, 252-day returns against the theme, the analyst split, FINRA short interest, insider filings and the filed competitor cohort's multiples
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16. S16primarycompany filing2026-09-08
    Form 4, Charles Liang, transactions of 3-4 September 2026
    the transaction codes, the Rule 10b5-1 plan date, and the indirect ownership nature that shows the two September Form 4s report one block twice
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17. S17primarycompany filing2026-09-08
    Form 4, Chiu-Chu (Sara) Liu Liang, transactions of 3-4 September 2026
    the matching share counts, prices and 'By Spouse' / 'By Joint Account w/ Spouse' ownership tags
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18. S18primarycompany release2026-08-25
    Cisco press release: Cisco Expands Secure AI Factory with NVIDIA for the Rack-Scale Era CSCO
    the counterparty's own words on the partnership, and the absence of any volume, term or purchase commitment in them

    SAN JOSE, Calif., Aug 25, 2026 - ... Today, Cisco (Nasdaq: CSCO) is expanding the Secure AI Factory with NVIDIA through a partnership with Supermicro... Through this new partnership, Cisco will offer Supermicro liquid- and air-cooled systems, giving customers access to rack-scale and dense GPU systems - validated and sold as part of the broader Cisco AI infrastructure portfolio.

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19. S19primarygovernment data2026-05-19
    EIA: Data center server energy use grows across the commercial building stock EIA
    the long-run installed-base trajectory for the thing SMCI builds, measured outside the industry

    Across all cases, servers alone accounted for an estimated 7% of commercial sector electricity consumption in 2025. Data center server electricity use grows to 22%-33% of commercial building electricity use by 2050 across our cases.

    read, but no claim rests on it
20. S20secondarynews2026-08-24
    Reuters: Taiwan indicts 9 over alleged illegal export of AI servers to China
    that an export-control matter remains live with a foreign prosecutor after the company's own board review closed
    read, but no claim rests on it
21. S21primarycompany filing2026-06-09
    Risk factors exhibit filed with the June 2026 shelf registration, 8-K Exhibit 99.1
    the related-party disclosure as it stood before the fiscal 2026 10-K, including the three-year series of Ablecom and Compuware purchases and the chief executive's personal borrowing from his brother's spouse
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22. S22primarycompany filing2026-03-03
    Super Micro Computer proxy statement (DEF 14A), filed March 3, 2026, for the annual meeting following fiscal 2025
    beneficial ownership as of January 31, 2026, director and executive officer biographies, the 2021 and 2023 CEO Performance Awards and their goal tables, the CEO's $1 salary and no-bonus undertaking, the other officers' KPI programme and the sale restriction on award shares
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23. S23primarycompany filing2026-02-13
    Vertiv Holdings Co Form 10-K for the fiscal year ended December 31, 2025 VRT
    a data-centre cooling and power maker describing the same plant DCBBS sells around the rack, from chillers to coolant distribution units
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24. S24primarycompany filing2026-10-15
    Super Micro Computer Form 8-K, Item 5.02, dated October 14, 2026 and filed October 15, 2026
    the appointment of Mark Long as chief financial officer effective October 14, 2026, David Weigand ceasing in that role, Long's background and his employment terms
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25. S25primarycompany filing2026-10-20
    Super Micro Computer Form 8-K and Exhibit 99.1, preliminary first quarter fiscal 2027 business update, filed October 20, 2026
    preliminary unaudited Q1 fiscal 2027 revenue of $18.5B-$19.5B against guidance of $14.5B-$15.5B, gross margin of 12.0%-12.5% against 10.4%-10.8%, and the November 3 call date

    Revenues for the first quarter of fiscal year 2027 are estimated to be in the range of $18.5 billion to $19.5 billion versus guidance of $14.5 billion to $15.5 billion

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