Super Micro Computer (SMCI) shares jumped nearly 30% Monday after the struggling server maker announced that an independent review of its accounting practices found no wrongdoing.
Shares of information technology firm Super Micro Computer closed up nearly 30% on Monday after the company said an independent committee found “no evidence of fraud or misconduct”—after a rocky 2024 marked by governance concerns raised by a former auditor and other alleged accounting issues.
Major U.S. equities indexes were mixed as December trading began, with many households eying Cyber Monday deals as U.S. retailers wrapped up a huge shopping weekend.
The accelerating adoption of artificial intelligence (AI) has been a boon to a number of players in the field and Super Micro Computer (SMCI 29.69%), 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.
Supermicro (SMCI) rallied as the S&P 500 top performer after an independent special committee found the company's management did not commit fraud or misconduct. Caroline Woods and Alex Coffey look into the reaction to the announcement and weigh whether it can reignite bullish sentiment.
SMCI stock jumped Monday after Supermicro announced that a probe by an independent committee found no evidence of fraud. The post Supermicro Says Probe Found No Fraud.
Super Micro Computer (SMCI 30.73%) stock is surging in Monday's trading. The tech company's share price was up 24.9% as of 11:45 a.m.
Shares of Super Micro Computer (SMCI 27.10%), the ailing artificial intelligence (AI) server maker, were surging today after the company finally gave investors a favorable update from its independent special committee.
Shares of Super Micro Computer Inc. powered higher Monday after the server maker and artificial-intelligence play said an internal probe into accounting issues “did not raise any substantial concerns” about the integrity of its management.
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 misconduct in the company's accounting practices. It also said it will be replacing its finance chief.
The server maker said evidence reviewed by its special committee didn't raise substantial concerns about its senior management or audit committee.
Super Micro Computer surged more than 15% after a special committee ruled that it found "no evidence of misconduct" at the embattled AI server maker.