Overview
- U.S. prosecutors charged individuals tied to Super Micro with an alleged $2.5 billion scheme to divert AI servers with restricted Nvidia chips to China, and co‑founder Wally Liaw resigned after his arrest while the company said it is cooperating and has not been charged.
- Reports describe repackaging and serial‑number relabeling routed through Asia to evade export controls, highlighting gaps in controls that prosecutors say were exploited during 2024 and 2025.
- Shares crashed by roughly one‑third after the indictment and remain volatile as institutions including Tortoise Capital sold out and Zacks Investment Management called the stock uninvestable.
- Shareholders filed securities class actions alleging false assurances on export‑control compliance, with lead‑plaintiff motions due in late May according to multiple law‑firm notices.
- Management raised fiscal 2026 revenue guidance to $40 billion and the stock bounced on Tuesday, yet analysts warn that losing Nvidia GPU supply could upend operations and push customers to diversify suppliers.