Quick Summary
- Super Micro Computer rallied more than 15% premarket following a dramatic increase in its Q4 gross margin guidance
- The AI server manufacturer disclosed a record order backlog exceeding $60B received in Q4
- X-Energy and Oklo advanced after participating in a $200M Trump administration nuclear initiative targeting AI data center power
- Rocket Lab secured a $266M federal contract covering 12 suborbital missions
- Pegasystems tumbled 15% following weaker-than-expected Q2 figures and cautious guidance citing AI-related customer hesitation
S&P 500 futures declined Wednesday morning as market participants reduced exposure to artificial intelligence stocks while awaiting crucial earnings releases from Tesla and Alphabet scheduled for after the closing bell.
While the broader market showed weakness, Super Micro Computer emerged as the session’s most significant performer.
Super Micro Computer Dramatically Raises Margin Expectations
Super Micro Computer surged over 15% during premarket hours following the company’s announcement that it now expects Q4 gross margins between 15% and 17%, a substantial increase from its previous guidance range of 8.2% to 8.4%.
Super Micro Computer, Inc., SMCI
According to the company, this significant improvement resulted from an advantageous mix of customers and products.
While preliminary Q4 revenue of $11B to $12.5B came in toward the lower end of expectations, the substantial margin enhancement captured investor attention.
The company also highlighted an unprecedented backlog, revealing it collected over $60B in fresh orders throughout the fourth quarter.
Dell Technologies climbed 4.3% and Hewlett Packard Enterprise advanced 3.2% in premarket activity, riding the momentum from Super Micro’s encouraging forecast.
However, not all AI-related equities participated in the rally. Intel declined 3.3%, Micron shed 2.9%, and Sandisk lost 2.8% as investors shifted capital away from certain semiconductor names.
Nuclear Energy and Aerospace Stocks Gain Ground
Oklo climbed 4% and X-Energy added 3% following confirmation that both nuclear energy companies have been included in a $200M Trump administration initiative designed to accelerate nuclear power deployment supporting AI data center infrastructure.
Microsoft and Nvidia are also participating in the program, which seeks to streamline the design and licensing processes for next-generation reactors.
Rocket Lab stock advanced 4% after announcing it won a $266M federal government contract to conduct 12 suborbital launch missions, with operations extending through December 2028.
The agreement encompasses approximately $112M allocated for research and development activities and falls under the oversight of the U.S. Space Systems Command.
Today’s Declining Stocks
Pegasystems plunged 15% after delivering Q2 earnings and revenue figures that fell short of analyst expectations. Management attributed the weakness to AI-driven uncertainty that prompted enterprise clients to postpone buying decisions, resulting in slower contract value expansion during the first half of 2026.
Dyne Therapeutics declined 10% following the announcement of an expanded stock offering priced at $20.50 per share, generating $375M in proceeds while raising investor concerns about shareholder dilution.
Bitcoin decreased 0.58% to $66,033. Gold futures advanced 1.21% while Brent crude oil jumped 3.90%.
Investor focus now turns to after-market earnings announcements from Tesla and Alphabet, which analysts expect will influence sentiment across the technology sector.
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