Super Micro Computer, Inc. Common Stock Goldman Sachs Communacopia + Technology Conference 2026

Yeah. Great. Hey, thanks for having us. It's good to see you and catch up. I think it's not lost on anyone that demand is actually pretty excellent. I think a couple of years ago we were $1.5 billion, and now we're on our way to doing $15 billion for a year, and now we're on our way to do $15 billion for one quarter and beyond. The building blocks, obviously, the foundation here is that AI adoption is underway. We're leading the charge with innovation. We have a whole host of different various solutions that we're bringing to market with our partners. The order book, obviously, at $60 billion, underpins the guidance for the year. We're pretty focused on a scheduled build-out, so to speak, for our end customers. There's a diversification within that customer base that's really helpful.

We see it broadening out, and it looks to be a multi-year cycle, and customers are looking for solutions as opposed to components, so to speak.

There's multiple layers of that, which is awesome. But the TAM itself has been segmented out as $2 trillion-$4 trillion, and whether or not the market truly believes that's the TAM. But if we're thinking it's $2 trillion-$4 trillion, and we're 10% of that market, and we've said this before, we're 10% now of the market itself, which implies that we're a significant enterprise player. We'll go back to that. But that gives us a $200 billion look, and I think that there's more opportunity for us because as we move forward in this market, our focus is on solutioning the customer. If we're solutioning the customer, by nature, we should be gaining share. I think the underpinnings of this is that we're transitioning from a traditional compute stack that people have been following for years, server storage, networking, et cetera.

The deployment model could change to next generation innovative solutions, which we're leading the charge. This is why this has been driving the growth, and customers are wanting application-optimized solutions for AI and beyond. We're developing those with a whole host of partners, and we can get into that later. From that perspective, that underpins the growth on the innovation front. We look to capture more customers. We're focused on the customer as opposed to how much of the market share we can gain, so to speak. There's a lot of nuance to that, but I guess we can dive into that with whatever next question we have.

Well, I think it's major, right? The time to market, the time to engineering, the time to solutioning, excuse me, is a material differentiator from what we're doing. So when we working with multiple large name partners, many of which were here today, they all have variations of their different chipsets and different platforms, and those platforms all need a different motherboard architecture, a framework, and we're able to manage or understand that element and put it into a product, into a system. So you take any chip, any server into any rack, into any data center as a whole total solution or an AI factory. The engineering piece of this is what leads customers to us and which leads us to gain share. And we've always done this. We've done this in the enterprise day one, back in the days of X86.

Well, X86 is still the platform, but a big platform. We were able to put more compute in a system that with a lower power draw, with better thermodynamics at a lower cost. At the time, no one cared about power and cooling. The DNA of the company is all about packaging these solutions to enable the customer to do more with their gear. So if you take that ethos, so to speak, and you move forward, and you can productize that, and you see the AI platforms actually requiring what we're able and capable of doing, where half of our staff is engineering, our focus is on this. We're sitting in Silicon Valley, all the major partners there, we can flex incredibly fast. And so we're bringing brand new technology to the market in volume and in scale, and that's a great viewpoint for customers and they notice.

Yeah. I think the backdrop of the market in early days, there was a few large buyers and a lot of folks who wanted to serve those buyers. There was a lot of price competition in that segment. I think many of the larger buyers realized that when they were getting, I hate to use the word, systems or reference architecture, that they had to do a tremendous amount of work to stand that up. I think one of our partners has mentioned that if you have 8 racks and it takes you 30 days to make them operational, it's like $3 million. Some of these operators are looking at 100 to 1,500 rack deployments. You're talking hundreds of millions of dollars if you cannot stand up your infrastructure immediately. I think the end market's looking for time to online, time to revenue.