From CNBC: 2025-02-26 09:17:31

Super Micro Computer shares surged 20% after meeting Nasdaq’s deadline for filing delayed financial results. The company’s auditor, BDO, stated that financial statements are in compliance with U.S. accounting principles. Super Micro identified internal control weaknesses and plans to hire more staff and upgrade IT systems to address issues.

Despite challenges, including potential litigation and reputational harm, demand for Super Micro’s servers with Nvidia chips has increased due to the AI boom. Last year, Hindenburg Research revealed a short position, causing delays in financial reports. Shares dropped 48% year-over-year, with recent volatility resulting in a 12% decline.

In response to governance concerns, Super Micro removed its CFO and CEO Charles Liang expressed confidence in meeting SEC filing deadlines. The company remains committed to addressing internal control weaknesses and improving financial reporting accuracy to ensure compliance with Nasdaq requirements.



Read more at CNBC:: Super Micro Computer surges 20% after filing delayed financials