Super Micro Computer closed up more than 18% after the company was selected to join the S&P 500.
.Shares of the server and computer infrastructure company have been up more than twentyfold during the last two years, a record rally driven by the industrywide artificial intelligence boom.
Super Micro shares are now up 278% this year after climbing 246% in 2023 and 87% in 2022, which was the worst year for tech stocks broadly since 2008. The company's market cap has soared from close to $4.5 billion at the end of 2022 to roughly $60 billion at Monday's close.
Super Micro will replace Whirlpool in the S&P 500 starting at market open March 18.
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