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super microcomputer The company’s shares fell more than 12% on Thursday after reports that the Justice Department launched an investigation into the company, a major beneficiary of the artificial intelligence boom.
The investigation is in its early stages, according to The wall street journalPreviously, Hindenburg Research disclosed the company’s short position in late August. Hindenburg said it found “new evidence of accounting manipulation.” Report. CNBC could not independently verify Hindenburg’s claims.
Super Micro makes computers that companies use as servers for websites, data storage and other applications, including artificial intelligence algorithms. The company’s customers include major players in artificial intelligence such as Nvidia, AMD and Intel.
According to the Wall Street Journal, a prosecutor with the U.S. Attorney’s Office in San Francisco requested information about a former employee who had accused Super Micro of accounting irregularities.
After Hindenburg released its report in August, Supermicro said it would not submit its annual report for this fiscal year to the U.S. Securities and Exchange Commission on time, causing the stock price to plummet nearly 20%. It’s unclear whether the delay is related to the company’s reporting.
Hindenburg, AMD and the Justice Department did not immediately respond to CNBC’s requests for comment.
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