Why Super Micro Computer Stock Soared Today, and Why Another Catalyst Is Coming Soon

Super Micro Computer (NASDAQ: SMCI) stock has been in limbo for months now. The company has been mired in an accounting controversy, and has been at risk of being delisted from the Nasdaq stock exchange since last summer.

But shares were pushing higher Wednesday after the company announced it had ramped up production availability of its artificial intelligence (AI) data center server solutions that feature Nvidia's new Blackwell platform. After jumping by almost 14% in morning trading, Super Micro stock remained higher by 8.8% as of 12:20 p.m. ET. And another catalyst might be just around the corner.

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An important quarterly report is due from Super Micro

Super Micro shares are still down by around 50% over the last six months. In October, its accounting firm resigned after raising concerns about the company's financial reporting, internal controls, and governance. Super Micro also needs to file its delayed annual report and other required financial statements with the Securities and Exchange Commission (SEC) by the Feb. 25 deadline set by Nasdaq.

But Wednesday's announcement showed investors that the company's business continues to move forward.

"Supermicro's Nvidia Blackwell GPU offerings in plug-and-play scalable units with advanced liquid cooling and air cooling are empowering customers to deploy an infrastructure that supports increasingly complex AI workloads while maintaining exceptional efficiency," said CEO Charles Liang.

Perhaps more important for investors will be the more complete business update coming from Super Micro next week. It is scheduled to provide its fiscal 2025 second-quarter report on Feb. 11.

While details about what that report will reveal are sparse, it could be a major catalyst -- in either direction -- for Super Micro shares. If the company announces that it has completed its regulatory filing commitments with its new auditor's sign-off, shares will likely soar. But if management unveils further problems, they will surely dive.

Wednesday's positive news induced some investors to jump in with bets that more good news is coming. One certainty, though, is that risk remains and more volatility is on the way.

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Howard Smith has positions in Nvidia and Super Micro Computer. The Motley Fool has positions in and recommends Nvidia. The Motley Fool has a disclosure policy.