Super Micro Shares Fall 27 Percent on Smuggling Charges
Super Micro shares fell 27% today after US officials charged its co-founder with smuggling AI chips to China. The firm is now cooperating with investigators.
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Shares of Super Micro Computer, Inc. plummeted 27% in premarket trading on Friday following allegations from the United States Department of Justice that three individuals, including a company co-founder, participated in a scheme to smuggle artificial intelligence technology into China. The market reaction could result in a loss of nearly $5 billion in valuation if the downward trend persists.
