Matthew Niknam
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Super Micro stock tumbles on $7 billion financing plans as company touts AI server orders
Super Micro Computer shares sank 9% in extended trading on Tuesday after the computer server maker announced $7 billion in equity-related financing deals to help to cover the cost of hardware component purchases. The company said it's planning $5 billion in underwritten stock offerings and a $2 billion at-the-market offering, starting in July, through arrangements with JPMorgan Chase, Goldman Sachs and Citigroup. Companies often see their share price drop after announcing stock sales, as...