Super Micro Computer said temporary customer-side infrastructure bottlenecks, not weaker AI server demand, held back its fiscal fourth-quarter revenue. The company booked more than $60 billion in new orders during the quarter, lifting backlog to a record level heading into fiscal 2027, while Chief Executive Officer Charles Liang said delayed deliveries were tied to shortages in power, cooling and networking readiness. Super Micro reported $11.12 billion in fiscal fourth-quarter revenue versus Wall Street expectations of $11.45 billion, while adjusted earnings of $1.70 a share beat analysts' $0.88 estimate, according to Benzinga Pro. Chief Financial Officer David Weigand said the cash conversion cycle widened to 149 days from 106 days in the prior quarter and is expected to normalize as more favorable backlog terms take effect. For fiscal first-quarter 2027, the company forecast revenue of $14.5 billion to $15.5 billion, GAAP diluted earnings of $0.89 to $0.98 per share, and non-GAAP diluted earnings of $1.01 to $1.10 per share. The stock rose 0.45% to $31.60 on Tuesday and gained 7.56% in extended trading after the results.