突发！人工智能，突然爆雷！

Core Viewpoint - The unexpected earnings warning from Supermicro, a major player in the AI server manufacturing sector, has raised concerns about the demand in the AI segment, leading to a significant drop in its stock price by approximately 17% after initially falling nearly 20% [1][2]. Group 1: Earnings Forecast and Performance - Supermicro revised its revenue forecast for Q3 from $5 billion to $6 billion down to a range of $4.5 billion to $4.6 billion, with earnings per share expected to be between $0.29 and $0.31, significantly lower than the anticipated $0.53 [1][2]. - The company attributed the revenue shortfall to delays in customer platform decisions, which have pushed sales into Q4, and a decline in gross margin by 220 basis points compared to the previous quarter [2][3]. Group 2: Market Impact and Investor Sentiment - The earnings miss has not only affected Supermicro but also its major client, NVIDIA, which saw its stock drop by over 4% in pre-market trading [4][5]. - Investors are awaiting further data to understand the potential impact of tariffs on AI companies and data centers, contributing to a general sense of uncertainty in the market [2][6]. Group 3: Long-term Outlook and Analyst Ratings - Despite the recent downgrade in revenue expectations for FY2025 from $26 billion to $30 billion down to a range of $23.5 billion to $25 billion, analysts maintain a positive long-term outlook for Supermicro, citing strong demand for AI-optimized servers [3][6]. - The close partnership with NVIDIA is seen as a significant growth driver for Supermicro, particularly in the development of AI GPU-based servers [6].