Super Micro grows AI backlog as margins come under pressure
Super Micro reported a backlog above $60 billion and sales guidance up to $15.5 billion, while inventory surged and margins weakened amid a contractor case.
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what happened
TradingView reports that Super Micro Computer (NASDAQ:SMCI) is seeing continued demand for artificial-intelligence systems. Its backlog has exceeded $60 billion, while sales guidance for fiscal Q1 2027 stands at $14.5 billion–$15.5 billion. The company expects AI systems to account for more than 80% of revenue and says current orders are expected to convert in the next period.
SMCI inventory rose 175% year over year to $12.89 billion, reflecting a substantial buildup of components and finished goods. Non-GAAP gross margin was 17.6% in fiscal Q4, while the fiscal Q1 outlook is 10.4%–10.8%. The company said high-volume GPU systems carry lower margins.
Super Micro contractor Ting-Wei Sun pleaded guilty in a case involving a scheme to divert about $2.5 billion of U.S. AI servers to China, including systems using Nvidia chips. Director Judy Lin will also retire from the board effective Oct. 9, 2026; she joined the board in 2022.
why it matters
The report highlights strong AI-related order demand for SMCI, while sharply higher inventory, lower expected margins and the server-diversion case remain important considerations for the company and its investors.
instruments
sources
- Weekly Recap: Contractor Guilty in $2.5B Server Diversion and $60B Backlog — TradingView, 12 October 2026 at 11:00 UTC
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