Supermicro stock plunges 33% after US charges co-founder with conspiracy to smuggle Nvidia chips to China

Supermicro (SMCI) stock plummeted 33% on Friday after an unsealed indictment revealed that the US charged two Supermicro employees and a contractor with smuggling servers containing Nvidia (NVDA) chips to China, in violation of US export controls. The US Attorney’s Office for the Southern District of New York charged Supermicro's co-founder, Yih-Shyan "Wally" Liaw, a US citizen who also serves on the company's board of directors and as senior vice president of business development. Ruei-Tsang "Steven" Cha ...