Barclays has ‘positive take’ on Supermicro after Nvidia Blackwell GPU unveiling

Barclays notes that Supermicro (SMCI) announced a range of AI server products immediately after Nvidia (NVDA) unveiled the new Blackwell GPU architecture at the start of the company’s GTC tradeshow. Supermicro aims to be first to market for new AI servers equipped with B100, B200 and GB200 chips with liquid-cooled systems, noted the analyst, who continues to highlight time to market as the “strongest moat” for Supermicro. The firm, which also notes that Supermicro separately announced a 2M share secondary offering that the firm estimates will generate around $2B in net proceeds assuming the green-shoe, views the equity offering as “a positive signal” despite low-single digit dilution. The firm keeps an Overweight rating and $961 price target on Supermicro shares, which are down $103.58, or 10%, to $897.10 in Tuesday morning trading.