Silicon Motion reported Q2 2026 revenue of $451 million, a 127% year-over-year jump and 32% higher than the previous quarter. This performance beat the analyst consensus of approximately $403 million by nearly 12%. Shares surged more than 21% in premarket trading on July 29. The company raised its Q3 2026 revenue guidance to a range of $519 million to $541 million. This growth is driven by demand for PCIe Gen5 SSD controllers designed for AI workloads, including in data centers previously dedicated to cryptocurrency mining.
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