(Reuters) -Super Micro Computer ( SMCI ) said on Tuesday it believes it will be able to file its delayed annual and quarterly reports with the U.S. Securities and Exchange Commission by February 25, after failing to submit the 10-K report by the August deadline.

The server maker also cut its annual revenue forecast, as competition between server makers heats up for high-performance computers used to train artificial intelligence models.

Super Micro, which has so far been one of the beneficiaries of a spending surge on advanced data center architecture that can support the complex processing needs of GenAI, faces intensifying competition from rivals such as Dell and HP Enterprise.

Dell and HPE have also been doubling down on providing liquid cooling to their already large base of customers, further threatening Super Micro's competitive edge. 

The emergence of low-cost AI models from China's DeepSeek has also spooked Wall Street, with investors questioning the sky-high valuation and dominance of AI bellwethers. 

The company expects net sales between $23.5 billion and $25 billion for fiscal 2025, down from its earlier projection of $26 billion to $30 billion.

The midpoint of the forecast is $24.25 billion, while analysts expect $24.92 billion in annual revenue, according to data compiled by LSEG.

Super Micro received an extension until February 25 to file its annual and quarterly reports to avoid its stock being delisted from the Nasdaq in December.