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Super Micro Computer's HPC Solutions Propel Server Growth: What's Next?

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Key Takeaways

  • SMCI's server and storage revenues jumped 19% YoY in Q3 FY25, driven by HPC and AI workload demand.
  • The company launched modular DCBBS solutions and new 4-Socket X14 Servers with Intel Xeon 6 processors.
  • SMCI's offerings support SAP HANA, Oracle Linux, and aim to streamline powerful data center deployment.

Super Micro Computer’s (SMCI - Free Report) server and storage segment has experienced massive traction in recent times. The recent growth has primarily been fueled by demand in high performance computing (HPC) and AI workloads where SMCI delivers multiple solutions. This shot the revenues of the server and storage segment by 19% year over year in the third quarter of fiscal 2025.

SMCI develops solutions like direct liquid cooling technology for optimizing thermal performance and allowing reduced power consumption in data centers supporting HPC and AI workloads. The company recently introduced data center building block solutions (DCBBS), a modular product for building data centers faster.

The company also started shipping Supermicro 4-Socket X14 Servers as part of DCBBS to consolidate high-performance compute, memory, and AI capabilities in a single chassis. These servers come with built-in Intel Xeon 6 P-Core processors that offer up to 50% performance uplift. Furthermore, the solution is certified for SAP HANA and Oracle Linux.

SMCI is playing a critical role in transitioning global enterprises toward more powerful data center operations supporting HPC and AI. The Zacks Consensus Estimate for Super Micro Computer’s 2025 and 2026 revenues is pegged at $22.12 billion and $30.2 billion, indicating year-over-year growth of 48.16% and 33.54%, respectively.

How Competitors Fare Against SMCI

The HPC market contains large players, including Dell Technologies (DELL - Free Report) , Atos, Hewlett Packard Enterprise (HPE - Free Report) , IBM, and Microsoft, that challenge SMCI’s growth. DELL is a strong HPC player with its PowerEdge Supercomputing & AI Servers like XE9680, XE9640 and XE8640.

Hewlett Packard Enterprise has built supercomputing systems like El-Capitan, Frontier and Aurora, all powered by HPE Cray technology, HPE ProLiant Compute XD Series, and has forged partnerships with leading players like NVIDIA and prestigious universities. In the storage space, Hewlett Packard Enterprise offers Cray ClusterStor-E2000 and Slingshot Interconnect 400.

SMCI’s Price Performance, Valuation and Estimates

Shares of SMCI have gained 68.9% year to date compared with the Zacks Computer- Storage Devices industry’s growth of 13.1%.

SMCI YTD Performance Chart

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Image Source: Zacks Investment Research

From a valuation standpoint, SMCI trades at a forward price-to-sales ratio of 1.02X, down from the industry’s average of 1.49X.

SMCI Forward 12-Month (P/S) Valuation Chart

Zacks Investment Research
Image Source: Zacks Investment Research

The Zacks Consensus Estimate for SMCI’s fiscal 2025 earnings implies a year-over-year decline of 6.33%, while the same for fiscal 2026 indicates growth of 26.33%. The estimates for fiscal 2025 and 2026 have been revised downward in the past 60 days.

Zacks Investment Research
Image Source: Zacks Investment Research

SMCI currently carries a Zacks Rank #4 (Sell).

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