Supermicro, Dell, and Other Nvidia Partners’ Stocks Pop After Chipmaker’s Earnings

Shares of Super Micro Computer (SMCI), Dell (DELL), and other Nvidia (NVDA) partners surged Thursday on expectations they could stand to benefit after the chipmaker reported fiscal third-quarter results that blew past analysts’ expectations. 

Supermicro, which makes servers that utilize Nvidia chips, saw its shares pop 15% Thursday. Fellow original equipment manufacturer (OEM) partners Dell and Hewlett Packard Enterprise (HPE) gained close to 4% and 3%, respectively. Shares of Micron (MU), which provides Nvidia with memory solutions for its AI chips, added more than 4%. 

After Nvidia’s results, Citi analysts issued a “buy” rating and $160 price target for Dell, which implies about 15% upside on top of the company’s closing price Thursday. The analysts said they expect Dell could benefit from an expanding market for artificial intelligence, particularly after Nvidia management highlighted “strong traction of Al in enterprise environments” in the company’s earnings call. 

Nvidia also mentioned Dell and Supermicro on its earnings call. Getting a shoutout could matter particularly for Supermicro, as the server maker has been dogged this year by delayed financial filings and concerns about its accounting practices. 

Other Companies Can’t Stop Talking About Nvidia, Underlining Its Growing Influence

In another sign of Nvidia’s growing influence, mentions of the chipmaker have surged in other companies’ earnings calls and other corporate events in the past few years, according to transcript data compiled by AlphaSense.

AlphaSense found Nvidia came up in a whopping 2,204 earnings calls, corporate presentations, and events since 2019, with 251 mentions in the calendar third quarter, up from 161 in the same period in 2023, and 60 a year earlier. The data covered about 9,000 companies globally and did not include any events or calls held by Nvidia itself.