The company said one reason for its weak results was that it hadn't yet obtained enough supply of Nvidia's next-generation chip, called Blackwell, raising questions about Super Micro's relationship with its most important supplier.

"We don't believe that Super Micro's issues are a big deal for Nvidia, although it could move some sales around in the near term from one quarter to the next as customers direct orders toward Dell and others," wrote Melius Research analyst Ben Reitzes in a note this week.