Super Micro drops after missing quarterly estimates on GPU delivery delays

Shares of AI chip maker Super Micro Computer SMCI.O fall 9.58% to $42.86 premarket after it misses quarterly profit and revenue estimates due to delayed graphics processing unit (GPU) rack deliveries tied to design changes

Co posts Q1 revenue of $5 billion, below analysts' estimates of $6 billion, per data compiled by LSEG

CEO cites complexity of new GPU racks requiring "intricate integration, testing, and validation"

J.P. Morgan says AI server leaders are sacrificing margins to win large deals, limiting profit upside

SMCI raises FY revenue forecast to at least $36 bln, up from previous $33 bln; expects Q2 revenue of $10 bln–$11 bln, above est of $7.83 bln

Stock up 55.81% YTD, as of last close