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May 14 - Super Micro Computer (NASDAQ:SMCI) shares jumped as much as 15% in premarket trading Wednesday after the company struck a multi?year, $20 billion partnership with Saudi data?center developer DataVolt.
Under the deal, Super Micro will fast?track delivery of ultra?dense GPU platforms and rack systems for DataVolt's hyperscale AI campuses in both Saudi Arabia and the U.S.
We're excited to join forces with DataVolt and expand our U.S. manufacturing footprint, said Charles Liang, president and CEO of Super Micro. Together, we'll deliver advanced AI and compute infrastructure to support the Kingdom's goal of becoming a global tech hub.
The announcement follows a White House statement that Saudi Arabia has committed $600 billion in aerospace, defense, energy, and security projects, its largest commercial agreement package with the U.S. to date.
As part of that broader initiative, DataVolt and several tech giants have pledged a combined $80 billion in investments. Backers include Alphabet (NASDAQ:GOOGL), Oracle (NYSE:ORCL), Salesforce (NYSE:CRM), Advanced Micro Devices (NASDAQ:AMD), and Uber (NYSE:UBER).
This article first appeared on GuruFocus.