(Reuters) – Tremendous Micro Laptop disclosed on Tuesday it would promote 2 million shares that might fetch about $2 billion, sending the synthetic intelligence (AI) server maker’s shares 9% decrease in buying and selling earlier than the bell.The San Jose-based firm’s shares have greater than tripled since January, which makes elevating funds by means of sale of fairness a profitable possibility.The positive aspects have outperformed these in Nvidia, which has been behind the relentless AI-led rally in Wall Road this yr, because of hovering demand for its servers utilized in synthetic intelligence information facilities.The shares have, nevertheless, misplaced 16% in worth after declining for 3 straight buying and selling periods, and primarily based on their closing value of $1,000.68, the corporate may elevate about $2 billion. The difficulty value for the secondary providing was not revealed.Proceeds from the inventory sale will likely be used to buy stock, increase manufacturing capability, enhance analysis and improvement investments and different working capital functions, the corporate mentioned in a regulatory submitting with the U.S. Securities and Alternate Fee.The corporate’s excellent shares will enhance to 58.6 million after the providing, it mentioned, including that the underwriter, Goldman Sachs, has the choice to purchase as much as 300,000 further shares inside 30 days.(Reporting by Akash Sriram in Bengaluru; Enhancing by Shinjini Ganguli)