Super Micro Computer (SMCI) shares soared Wednesday, extending gains as AI stocks rallied on the heels of new Saudi partnerships announced as President Trump kicked off a four-day trip to the Middle East. 

Shares of Supermicro were up close to 15% in recent trading, after rising 16% Tuesday. Still, the stock has lost more than half its value over the past 12 months.

Wednesday's jump comes after Supermicro late Tuesday announced a $20 billion deal with Saudi Arabian data center company DataVolt. Supermicro partners Nvidia (NVDA) and Advanced Micro Devices (AMD) also saw their shares rise after announcing deals Tuesday with Humain, an AI subsidiary of Saudi Arabia’s sovereign wealth fund.

Raymond James analysts initiated coverage of Supermicro earlier this week with an “outperform” rating, called Supermicro a “market leader in AI-optimized infrastructure,” in a note to clients. The company has 9% of the $145 billion AI platform market, which could climb, the analysts said.

Supermicro shares have been volatile over the past few months, amid concerns about its accounting practices and downward forecast revisions. In February, the company narrowly avoided being delisted for delinquent financial filings.