Super Micro Stock Rises on $20B DataVolt Partnership
SUPER MICRO COMPUTER INC jumped as much as 16% in premarket trading on Wednesday as it entered a multi-year partnership agreement with Saudi Arabia-based data center company.
The deal, valued at $20B, is expected to “fast-track delivery of ultra-dense GPU platforms and rack systems for DataVolt’s hyperscale AI campuses in the Kingdom of Saudi Arabia and the U.S.", the company said in a statement on Tuesday.
“We are excited to partner with DataVolt and continue expanding our manufacturing efforts in the United States,” said Charles Liang, President and CEO of Supermicro. “By working together, we will bring cutting-edge AI and compute infrastructure, enabling the Kingdom’s vision of becoming a global hub for technology and innovation.”
The announcement came as the White House on Tuesday announced commitments from Saudi Arabia to invest $600B in aerospace and defense, energy and security deals, marking the largest set of commercial agreements so far between the two countries.
The new tranche of deals includes $20B in investment commitments from DataVolt to build AI data centers and energy infrastructure in the U.S.
DataVolt, along with Google, Oracle, Salesforce, AMD, and Uber, have committed to $80B in technology investments in both countries.
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