AI servers · NVIDIA systems

Super Micro

One of the largest suppliers of NVIDIA-GPU AI servers and racks. FY2025 revenue $22B (+47%), FY2026 guidance $33B. NVIDIA Blackwell (B200, GB200 NVL72) systems are 70%+ of revenue. Ships AI datacenter racks with direct liquid cooling (DLC) at ~2000 racks/month.

SMCI Updated Jun 21, 2026

Annual return · 2026-06-18'21+38.8%'22+86.8%'23+246.2%'24+7.2%'25-4%YTD+4.7%

Money in ▸엔터프라이즈 AI (비공개)◐Revenue ~$22B하이퍼스케일러·AI 클라우드 (비공개)◐

Super MicroFY2025 revenue $22B

▸ Money outNVIDIA●메모리·HBM (SK·삼성·마이크론)◐

Financials & Segments

Total revenue · FY2025 revenue $22B (+47%)
Customer concentration · NVIDIA platforms 70%+ of revenue.
Segments · AI servers/racks · Liquid cooling (DLC)

Revenue from

엔터프라이즈 AI (비공개) Medium confidence· Revenue ~$22B · 2025 · FY2025 revenue
Supplies enterprise on-prem AI infrastructure.
Confirms EN SEC EDGAR Published May 6, 2025: "FY2025 revenue $22B (+47%)."
하이퍼스케일러·AI 클라우드 (비공개) Medium confidence
Supplies liquid-cooled AI racks to CSPs/AI clouds.
Confirms KO DigitalToday Published Sep 1, 2025: "AI clouds like Lambda build AI factories on Supermicro Blackwell clusters."
Confirms KO ZDNet Korea Published Aug 25, 2025: "AI clouds like Lambda build AI factories on Supermicro Blackwell clusters."

Pays to

NVIDIA High confidence
Sources NVIDIA GPUs/platforms (tied to 70%+ of revenue).
Confirms KO ZDNet Korea Published Aug 25, 2025: "NVIDIA Blackwell systems are 70%+ of SMCI revenue."
Confirms EN SEC EDGAR Published May 6, 2025: "NVIDIA Blackwell systems are 70%+ of SMCI revenue."
메모리·HBM (SK·삼성·마이크론) Medium confidence
Sources server DRAM/HBM.
Confirms EN SEC EDGAR Published May 6, 2025: "AI servers carry large memory/HBM."

Value-chain ripple (tiers 2–3)

Following node-to-node links up to 3 tiers; each firm is shown once, at its nearest tier.

Company	Chain	'21	'22	'23	'24	'25	YTD
Super Micro	node	+38.8	+86.8	+246.2	+7.2	-4	+4.7
NVIDIA	benef1	+125.5	-50.3	+239	+171.3	+38.9	+13.1
Kioxia	benef2	·	·	·	·	+1082.1	+408.4
Micron Technology	benef2	+24.1	-46	+72.1	-1	+240.5	+297.6
SK hynix	benef2	-0.4	-25.6	+53.9	+48.6	+361.1	+204.7
Ibiden	benef2	+30.4	-19.6	+51.6	-38.6	+261	+199
Unimicron	benef2	+133.5	-30.2	+35.2	-19.7	+175.7	+155.7
ASE Technology	benef2	+38.3	-12.8	+60.9	+10.1	+65.6	+151.9
Astera Labs	benef2	·	·	·	·	+25.6	+150.7
Nan Ya PCB	benef2	+110.6	-46.7	-0.5	-38.3	+188.2	+125
Samsung Electronics	benef2	-9	-14.2	+20.9	-26.4	+212.9	+121
Coherent	benef2	-10	-48.6	+24	+117.6	+94.8	+111.1
Monolithic Power	benef2	+35.5	-27.9	+79.9	-5.6	+54.5	+73.2
TSMC	benef2	+12.1	-36.8	+42.5	+92.9	+56	+53.3
King Yuan Electronics (KYEC)	benef2	+26.7	-7.7	+132.4	+38.6	+171	+4.2
Samsung Electro-Mechanics	benef3	-11.8	-18.5	-1.4	-2.5	+110	+713.6
LG Innotek	benef3	+78.2	-22	-28.8	-22.1	+66.8	+370.1
Jusung Engineering	benef3	+127.9	-42.6	+173.3	-3.1	+30.7	+367
Arm Holdings	benef3	·	·	·	+64.2	-11.4	+302
Cohu	benef3	-0.2	-15.9	+10.4	-24.6	-12.8	+198.2
Kulicke & Soffa	benef3	+92.6	-25.9	+25.5	-13.3	-0.3	+170
PSK Inc	benef3	+22.7	-19.6	+14.2	-2.6	+228.2	+168.3
SUMCO Corporation	benef3	-4.3	-3.9	+21.3	-48.1	+41.7	+163.6
MediaTek	benef3	+27.8	-26.6	+49	+59.1	+25.1	+154.3
Daeduck Electronics	benef3	+64.2	-0.3	+13.3	-22.7	+250.2	+148.3
Applied Materials	benef3	+83.6	-37.5	+68	+1.1	+59.6	+140.7
Lam Research	benef3	+53.7	-40.8	+88.8	-6.9	+139.5	+128.1
Teradyne	benef3	+36.8	-46.3	+24.8	+16.5	+54.4	+126.4
GlobalWafers	benef3	+27.3	-30.3	+14.4	-38.9	+51	+123.3
KLA	benef3	+68	-11.2	+56	+9.4	+94.5	+114.2
Entegris	benef3	+44.6	-52.5	+83.5	-17.1	-14.6	+112.5
Onto Innovation	benef3	+112.9	-32.7	+124.6	+9	-5.3	+111.4
Simmtech	benef3	+119.6	-34.6	+12.4	-63.3	+392.9	+105.5
Resonac	benef3	-2.6	-4	+37.5	+30.3	+137.9	+105.5
ASMPT	benef3	-29	-12.4	+21.8	-4.8	+47.6	+102.3
Foosung	benef3	+59.9	-33.5	-34.5	-39.1	+67.4	+100
BESI	benef3	+33.7	-6.1	+121.8	-9.3	+35	+89.5
Global Unichip	benef3	+21.4	+67.6	+99.4	-13.7	+101.4	+86.3
Tokyo Electron (TEL)	benef3	+40.4	-14.5	+89.8	-4.4	+61.6	+84.1
Camtek	benef3	+110.1	-52.3	+215.9	+18.3	+31.7	+83.5
KC Tech	benef3	-24.2	-6.1	+57.9	+5.9	+56.7	+82.2
ASML	benef3	+64.1	-30.5	+39.9	-7.7	+55.8	+81
SCREEN Holdings	benef3	+40.7	-13.2	+220.1	-24.1	+84.9	+71.9
Nepes	benef3	-29.5	-44	+6.7	-62.7	+179.2	+70.5
JCET (Jiangsu Changjiang Electronics)	benef3	-34	+0.2	-15.2	+73.3	+28	+67.8
Tokyo Ohka Kogyo (TOK)	benef3	-2.7	-3	+63.8	+4.3	+111.5	+52.9
Lasertec	benef3	+78.9	+2.4	+57	-60.6	+138.9	+51.4
ASM International	benef3	+44.2	+2.9	+68.7	+10.3	+25.9	+50.8
Shin-Etsu Chemical	benef3	+6.3	+3.1	+57.8	-15.6	+7.6	+43.8
Powertech Technology (PTI)	benef3	+4.8	-7.5	+86	-16	+128.6	+43.1
Hanmi Semiconductor	benef3	+98.5	-21.7	+313.1	+93.7	+87.9	+40.2
Wonik IPS	benef3	-19.7	-19.8	-0.2	-25.5	+408.8	+36.4
Hana Micron	benef3	+109	-41	+143.5	-52.4	+269.3	+29.8
Disco Corporation	benef3	-6.6	+27.7	+218.5	+11.6	+49.6	+29
Wonik QnC	benef3	+26.2	+2	+11.9	-33.7	+53.4	+25.1
Advantest	benef3	+17	-2.3	+155.7	+49.5	+196	+24.6
Cadence Design Systems	benef3	+36.6	-13.8	+69.6	+10.3	+4	+23.9
ISC	benef3	+43.2	+14.2	+116.5	-11.9	+126.8	+23.4
HPSP	benef3	·	·	+216.5	-30.4	+54.7	+21.7
Dongjin Semichem	benef3	+28.1	-13.7	+16.1	-42.8	+160.1	+7.7
Photronics	benef3	+68.9	-10.7	+86.4	-24.9	+35.8	+5.1
Eugene Technology	benef3	-33.1	-48.7	-3.7	-3.3	+25.7	-1.5
Synopsys	benef3	+42.1	-13.4	+61.3	-5.7	-3.2	-3
Hana Materials	benef3	+106	-30.5	+26.1	-47.4	+173.9	-3.6
Uni Test	benef3	+23.4	-57.8	+11.3	-1.6	+6.8	-5.1
Leeno Industrial	benef3	+21	-5.3	+18.3	+9.5	+150.1	-12.6
SFA Semicon	benef3	-5.8	-34.1	+48.7	-48.7	+139.8	-13.3
ENF Technology	benef3	-32.9	-23.6	+1.3	-16.1	+204.6	-13.9
Park Systems	benef3	+25.1	+1.6	+41.6	+37.3	+28.9	-15.8
Soulbrain	benef3	-8.2	-3.9	+16.6	-37.6	+192.8	-24.6
S&S Tech	benef3	-17.3	-5	+45.8	-31.2	+210.8	-33.6

YTD as of 2026-06-18 · source: Yahoo Finance

← All companiesMarkdown · JSON