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Super Micro leaps forward as AI server maker prepares to join S&P 500

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Shares of Super Micro Computer rose 13.5 percent in extended trading Friday (March 1) following the announcement that the seller of AI-optimized servers would join the S&P 500.

Super Micro and Deckers Outdoor Corp will be added to the S&P 500 before trading begins on Monday, March 18, coinciding with a quarterly rebalancing of Wall Street’s most followed stock benchmark, S&P Dow Jones Indices said in a Press release.

These two companies will replace Whirlpool Corp and Zion Bancorporation, S&P Dow Jones Indices said.

Index funds that track the S&P 500 are among the most popular investment tools on Wall Street, and these funds will need to purchase shares of Super Micro and Deckers in order to stay aligned with the makeup of the benchmark index.

These S&P 500 index funds have assets of about $7.8 trillion, according to Howard Silverblatt, senior index analyst at S&P Dow Jones Indices.

Super Micro sells high-end servers powered by Nvidia’s high-end AI processors, and its stock has more than tripled this year.

As Super Micro’s market value reached more than US$50 billion, investors had speculated that the company would be added to the S&P 500.

Investors traded nearly $10 billion worth of Super Micro shares on Friday, dwarfing trading in Wall Street heavyweights including Microsoft and Amazon.

Its jump in after-hours trading adds to a 4.5 percent rise during Friday’s trading session.

Shares of Deckers rose 2.7 percent in extended trading, while those of Whirlpool fell 1.7 percent and Zion Bancorporation fell 2 percent.

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