On June 10, Super Micro Computer fell 6.99% in pre-market trading, trading at $37.65/share, with trading volume of $967,700. The decline follows the company's announcement of a massive $7 billion equity and equity-linked financing plan, triggering significant selling pressure on dilution fears.

The financing package consists of a $5 billion underwritten public offering — comprising $1.25 billion of common stock and $3.75 billion of depositary shares — along with an at-the-market offering of up to $2 billion, expected to begin no earlier than the third quarter. Net proceeds will be used to fund approximately $39 billion in AI server order backlog by purchasing necessary components, with remaining funds potentially allocated to debt repayment and general corporate purposes. Following the announcement, shares plunged as much as 12% in after-hours trading.

The dilution pressure compounds recent headwinds, including a broader tech selloff driven by rising bond yields and disappointing sector guidance. The company's most recent fiscal third-quarter revenue of $10.2 billion, while up 123% year-over-year, missed market expectations of $12.39 billion due to component shortages and customer site preparation delays.

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