Super Micro Computer is building a third campus set to be 3 million square feet in California’s Silicon Valley.

A Mizuho analyst has brought back his coverage of Super Micro shares — but declines to recommend them, citing competitive challenges.

All of this halted spectacular momentum that had pushed the stock to a nearly 800% gain in the previous three years. Supermicro was one of the early winners of the artificial intelligence (AI) boom as it makes servers and other equipment critical to the operations of AI data centers.