NEW YORK, July 22 -- Super Micro Computer shares jumped as much as 15% Tuesday after the company issued preliminary results showing a record $60 billion order backlog and gross margins that nearly doubled in its fiscal fourth quarter, a signal that the maker of AI server racks has emerged from a damaging accounting controversy to become a dominant supplier in the build-out of artificial intelligence infrastructure.

The San Jose-based company said backlog reached $60 billion for the first time in its history. Gross margins, which had been under pressure for much of fiscal 2025, roughly doubled from the prior quarter in what executives attributed to a shift in product mix toward higher-margin liquid-cooled rack systems built for dense AI w...