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Intel gained 3.3% and AMD rose 1.8% Wednesday as Super Micro’s blowout results reaffirmed the AI infrastructure spending cycle driving chip demand.
Super Micro jumped 19% after a 78% EPS beat and over $60 billion in new orders powered a record backlog entering fiscal 2027.
NVIDIA’s next quarterly report carries roughly $91 billion in revenue guidance, and Super Micro’s surging backlog signals sell-side estimates may keep climbing.
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Shares of the largest logic-chip makers pushed higher into Wednesday’s close, riding a read-through from blockbuster AI-infrastructure earnings out of the server supply chain. Advanced Micro Devices (NASDAQ:AMD) closed up 1.8% at $483, Intel (NASDAQ:INTC) gained 3.3% to $101, and NVIDIA (NASDAQ:NVDA) advanced 3% to $224. None of the three reported earnings today, but they were all riding a wave of enthusiasm for AI hardware stocks.
Shutterstock Super Micro’s Blowout Earnings Ignite the Supply Chain
The upstream spark came from Super Micro Computer (NASDAQ:SMCI), which reported fiscal Q4 results after Tuesday’s close and jumped 19% Wednesday to $38. Super Micro delivered non-GAAP EPS of $1.70 versus a $0.96 consensus, a 78% beat, on revenue of $11.12 billion, up 93.2% year over year. GAAP gross margin expanded to 17.5% from 9.5%, and the company guided fiscal 2027 revenue to $65 billion to $72 billion after booking more than $60 billion in new orders during fiscal 2026 (8-K filing).
CEO Charles Liang framed the momentum bluntly: “Our Total AI/IT Solutions strategy continues to deliver strong results, we added several hundred enterprise and other customers in the past year, generated more than $60 billion in new orders, and booked record backlog entering fiscal 2027.” That backlog is the tell. Server-system order flow of that scale feeds directly down the stack into the CPUs, GPUs, and accelerators that fill those racks.
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Why AMD, Intel, and NVIDIA All Caught the Bid
Each of the three sits squarely in that downstream path. AMD’s Q2 report earlier this month showed Data Center revenue of $6.72 billion, up 107% year over year, now 58% of total revenue, and management guided Q3 to roughly $13 billion. Intel’s July report delivered Data Center and AI revenue of $6.26 billion, up 59% YoY, with CEO Lip-Bu Tan calling it Intel’s “strongest revenue growth in more than fifteen years.” NVIDIA’s most recent quarter, filed May 20, 2026, posted Data Center revenue of $75.25 billion, up 92% YoY, with Jensen Huang describing the AI factory buildout as “the largest infrastructure expansion in human history.”
SMCI Price Target — 24/7 Wall St.
Super Micro’s guide and backlog effectively re-underwrote the demand assumption baked into all three names. Add in a strong week of AI-infrastructure prints across the neocloud and optical-networking cohort, and traders had a clean reason to bid the CPU and GPU incumbents into the close.
Year-to-Date Context Is Doing a Lot of Work
These moves land on top of already historic runs. Intel is now up 174% year to date and 363% over the past year, powered by the Foundry turnaround and the Xeon 6 design win in NVIDIA’s DGX Rubin servers. AMD is up 125.5% YTD after Instinct GPU wins including up to 2 gigawatts of MI450 GPUs for Anthropic. NVIDIA has added 20.3% YTD and sits on an $80 billion share repurchase authorization heading into its next report. NVIDIA also recently unveiled a $500 billion financing partnership with most of Wall Street’s banks. The partnership will continue to provide financing to many of the neoclouds that provide NVIDIA diversification and negotiating power against larger hyperscalers.
What to Watch
NVIDIA’s fiscal Q2 report is the next major catalyst for the group, with prior guidance calling for roughly $91 billion in revenue excluding China data-center compute. If Super Micro’s backlog is any read-through, the sell-side bar is moving higher. Keep an eye on whether Wednesday’s gains extend through the close of the week or fade as traders reposition ahead of that earnings report.
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