Super Micro proposes $7.0 billion of equity and equity-linked financing to fund about $39 billion of AI server orders

Super Micro proposed about $7.0 billion of equity and equity-linked financing to buy components for roughly $39 billion of advanced AI server orders from more than 20 customers. The plan includes $5.0 billion of underwritten offerings, about $1.25 billion of common stock and $3.75 billion of depositary shares, plus up to $2.0 billion through an at-the-market program. The at-the-market sales are not expected to start until the third quarter of 2026.

• Total proposed financing: about $7.0 billion
• Underwritten offerings: about $1.25 billion of common stock and about $3.75 billion of depositary shares
• At-the-market common stock program of up to $2.0 billion, not expected to start before Q3 2026
• Proceeds mainly to buy components for about $39 billion of orders from more than 20 customers