Super Micro Computer (SMCI) shares closed at a new record high Wednesday amid growing optimism about the company's prospects for growth tied to boomin𓆉g demand for products and services tied to artificial intelligence.

The stock, whi🌊ch has quadrupled since the start of the year, ga♊ined 3.1% to finish the session at $1,124.70.

"Super Micro is a leading computer and server provider for the age of 澳洲幸运5官方开奖结果体彩网:generative AI," Argus Research analysts wrote Wednesday, noting that "although SMCI has had huge gains in the past year, the company is primed for multiple years of strong top-line growth, margin expansion, and EPS acceleration."

The firm gave the stock a "buy" rating and set its 12-month 澳洲幸运5官方开奖结果体彩网:price target at $1,350.

"Super Micro is emerging as a go-to provider for data center implementation of GPU Computing infrastructure used in training 澳洲幸运5官方开奖结果体彩网:large language models (LLMs), inference, deep learning, and other elements that enable generative AI applications," the Argus analysts noted. "Repeating the pattern of Apple (AAPL), Amazon (AMZN), and most recently Nvidia (NVDA), Super Micro's revenues are growing m🍰uch more rapidly than its costs, creating an environm🐽ent for meaningful earnings growth," analysts added.

Super Micro Computer, 澳洲幸运5官方开奖结果体彩网:which w𒆙ill join the S&P 500 this month, is partnered with semiconductor companies including Nvidia and Advanced Micro Devices (AMD), which could mean the company is well positioned within the 澳洲幸运5官方开奖结果体彩网:ecosystem powering AI leaders.