Super Micro Computer Inc (SMCI, Financial) shares spiked nearly 6% early Wednesday, extending a weeklong surge that has fully erased losses incurred after a scathing Hindenburg Research report last summer. The report accused the server maker of accounting manipulation, export control violations, and insufficient disclosure of supplier relationships. On Tuesday, Super Micro regained over 16% of its value, reaching its highest level since August 26, the day before the report's release.
In addition to securing a major deal with the xAI data center headed by Elon Musk in Tennessee, SMCI is also involved in the production of computer server products for data centers and in incorporating Nvidia (NVDA, Financial) AI chips. Super Micro is now the top-performing member of the S&P 500, with an 83% year-to-date gain in 2025. A recent business update detailed by CEO Charles Liang in which he painted a bright picture of the future, including projected revenue of $40 billion for fiscal year 2026, was further supportive of its rally; it is far above Bloomberg's estimate of $30 billion.
Ernst & Young's exit was only confirmed by Super Micro, who denied all allegations and hired a new accountant following the firm's disgraced departure. However, the firm is still on the path to submit its
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