Super Micro rebounds as GPU shipments exceed 100,000 per quarter

In the United States, Super Micro, a server and storage system manufacturer founded in 1993, has experienced a tumultuous period marked by significant stock fluctuations and allegations of misconduct. Following the launch of OpenAI's ChatGPT in November 2022, the company's stock surged from approximately $8 to a peak of $114 by March 2024, driven by heightened interest in AI technologies. However, this growth was overshadowed by a series of controversies, including a 2018 report alleging security vulnerabilities in its servers and a 2020 settlement with the SEC over accounting violations. In August 2024, a report by Hindenburg Research accused Super Micro of accounting manipulation and other unethical practices, leading to a 26% drop in its stock price. The company subsequently announced delays in filing its annual financial reports, citing the need to evaluate its internal controls. This situation prompted further scrutiny, including an investigation by the U.S. Department of Justice, which began contacting individuals with relevant information. Despite these challenges, Super Micro announced plans to ship over 100,000 GPUs per quarter, which led to a rebound in its stock price. The GPUs are essential for data centers that train and deploy AI models, indicating a continued demand for the company's products. However, the company still faces investor skepticism, including two class-action lawsuits alleging misrepresentation and failure to disclose critical information. As of early October 2024, Super Micro's stock remains volatile, hovering around $40, reflecting ongoing investor concerns amid the backdrop of the AI sector's rapid growth and the company's troubled history.