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Update: Super Micro Computer Plans Equity Offering to Fund AI Servers Demand; Shares Slump Premarket

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(Updates with the stock move in the headline and the first paragraph.)

Super Micro Computer's (SMCI) shares slumped over 9% in Wednesday's premarket activity after the company unveiled plans for up to $7 billion in equity and equity-linked financing to meet demand.

Net proceeds will be used to fund $39 billion of orders for artificial intelligence servers, and for general corporate purposes, the company said late Tuesday.

The plan comprises $5 billion in public offerings, including $1.25 billion of common stock and $3.75 billion of depositary shares, the company said. It will grant underwriters a 30-day overallotment option to purchase additional shares.

Super Micro also announced an at-the-market offering of up to $2 billion that it expects to launch no earlier than Q3, according to a statement.

Price: $36.81, Change: $-3.82, Percent Change: -9.40%

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Super Micro Computer Plans Equity Offerings

Super Micro Computer (SMCI) said late Tuesday it is planning $7 billion of equity and equity-linked financing transactions as part of efforts to fund artificial intelligence orders related to its advanced servers.Total of $5 billion of public offerings comprises $1.25 billion of common stock and $3.75 billion of depositary shares. The company will grant the underwriters a 30-day overallotment option to buy additional shares, the company said.The company also launched an at-the-market offering of up to $2 billion, expected to begin no earlier than Q3, according to a statement.Net proceeds will be used to fund $39 billion of AI server orders and for general corporate purposes, the company said.Shares of the company fell over 9% during after-hours.

$SMCI