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Investing.com -- NVIDIA shares were weaker Wednesday in part because AI server maker and major client Super Micro Computer Inc (NASDAQ:SMCI) warned for its third quarter. However, according to Louis Navellier, wording from the server maker suggests demand for NVIDIA’s Blackwell chips remains strong.
After the close, Super Micro expects net sales for the quarter to be $4.5-$4.6 billion, down from its prior view of $5-$6 billion and the consensus of $5.41 billion.
Navellier highlights that in the update, Super Micro said it “saw some order pushouts in the quarter as customers appear to be opting for next-generation products over current-gen ones.”
"There is no evidence that Super Micro Computer’s lower guidance is impacting Nvidia (NASDAQ:NVDA), since Nvidia has sold all the Blackwell chips that can be manufactured," he states. "This comment just means that the demand for Blackwell remains strong."
Shares of NVIDIA are down 1.1% at the close, but off the worst levels. Super Micro is down 13%.
In addition to the Super Micro issue, NVIDIA stock got a rare sell rating today from an analyst at Seaport Securities. The firm said the AI spending boom is already priced in.