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Shares of Super Micro Computer (NASDAQ:SMCI) rose about 5% on Wednesday, amid some gains for the broader tech sector.
The gains come amid President Donald Trump’s announcement that the U.S. would meet with Iran next week.
Super Micro Computer rose as much as 9.5% on Wednesday, its biggest intraday rise since May 14, and also hitting its highest level since May 16.
As of the last close, shares of the high-performance server and storage solutions provider have surged about 48% year-to-date. However, in the past one year, the stock has declined nearly 45%.
Trump said on Wednesday that the U.S. would meet with Iran next week but downplayed the importance of reaching a diplomatic agreement, pointing to the damage inflicted on Iran’s key nuclear facilities by recent American airstrikes.
Meanwhile, AI chipmakers Nvidia (NVDA) and Advanced Micro Devices (AMD) climbed nearly 3% each. Broadcom (AVGO) and Qualcomm (QCOM) were also among the gainers on Wednesday.
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