The artificial intelligence (AI) server maker announced the completion of a review by the special committee, but there's more work to do.The accelerating adoption of artificial intelligence (AI) has been a boon to a number of players in the field and Super Micro Computer (SMCI 29.64%), commonly called Supermicro, has certainly been among them. The company supplies state-of-the-art servers designed specifically to handle the workloads that come with processing AI. As a result, demand for Supermicro's product ...

Shares of Super Micro Computer (SMCI 30.73%), the ailing artificial intelligence (AI) server maker, were surging today after the company finally gave investors a favorable update from its independent special committee.The report from Supermicro, which has been through a series of financial reporting setbacks, offered some good news and helped boost investor confidence.As a result, the stock was up 15.6% as of 10:23 a.m. ET. Supermicro gets some good newsIn a press release this morning, the company said that ...

Key TakeawaysSuper Micro Computer said an independent review of its accounting practices found no wrongdoing.The computer server maker added that concerns raised by its former auditor "were not supported by the facts."The report also called for David Weigand to be replaced as CFO, and the board is in the process of doing so. Shares of Super Micro Computer (SMCI), or Supermicro, soared roughly 20% to lead S&P 500 gainers Monday after the troubled computer server maker announced an investigation found no mis ...

Charles Liang, CEO of Super Micro Computer Inc., during the Computex conference in Taipei, Taiwan, on June 5, 2024.Super Micro Computer surged more than 14% after a special committee ruled that it found "no evidence of misconduct" at the embattled AI server maker, and appointed a new chief accounting officer."The evidence reviewed by the Special Committee did not raise any substantial concerns about the integrity of Supermicro's senior management or Audit Committee, or their commitment to ensuring that the ...

About this content About Oliver Haill Oliver has been writing about companies and markets since the early 2000s, cutting his teeth as a financial journalist at Growth Company Investor with a focusing on AIM companies and small caps, before a few years later becoming a section editor and then head of research. He joined Proactive after a couple of years freelancing, where he worked for the Financial Times Group, ITV, Press Association, Reuters sports desk, the London Olympic News Service, Rugby World Cup ...

Super Micro Computer (SMCI -6.93%), the AI server maker, has taken investors on a wild ride over the last three months.The company's troubles began with a short-seller report from Hindenburg Research at the end of August, alleging a wide range of accounting irregularities. That was shortly followed by a delay in the filing of its 10-K, and in September the Department of Justice reportedly opened up an investigation into the company. It also received a delisting warning from the Nasdaq stock exchange. Last m ...

I watched Super Micro Computer Inc. (NASDAQ: SMCI ) curiously punch higher at a furious rate from its initial breakout of $35.69 post stock split in August of 2023, the exact price point this equity sits at in theJustin Ward is the CEO of De Ward Markets and author of Profiting From Stocks The Three Wave Theory.De Ward Markets offers near - medium and long term analysis for US and global indexes, equities and cryptocurrencies. The company offers two primary services consisting of the Market Tracker, which i ...

During a generally quiet period in the market – Thanksgiving – one deeply troubled stock made an unexpectedly large downward move – Super Micro Computer (NASDAQ: SMCI).Specifically, around 8:30 AM EST on November 29, SMCI shares plunged 10% within minutes, only to partially rebound and form something of a cup-and-handle pattern, leading them to their press time price near $32, per the data retrieved from Robinhood (NASDAQ: HOOD) on Friday.SMCI stock November 29 sudden drop. Source: RobinhoodThough there is ...

In this video, I will cover recent updates regarding Super Micro Computer (SMCI -7.76%). Watch the short video to learn more, consider subscribing, and click the special offer link below.*Stock prices used were from the trading day of Nov. 27, 2024. The video was published on Nov. 29, 2024. ...

Super Micro Computer (SMCI 1.86%) stock has been on a roller-coaster ride in recent months. The tech stock has quickly gone from a hot artificial intelligence (AI) play to becoming a risky investment that may not only get the boot from the S&P 500, but could also end up getting delisted. Over the past six months, the company has lost nearly 60% of its market value.But since the tech company announced a new auditor in BDO (the previous one resigned over concerns relating to internal controls), there appears ...