[News] Supermicro Appoints New Auditor, Averts Delisting Crisis

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According to a report from Wccftech, Super Micro Computer has taken steps to avoid a potential delisting from the Nasdaq exchange. The company has submitted a compliance plan and appointed BDO USA as its new auditor to meet Nasdaq’s disclosure requirements.

The report notes that Supermicro has submitted a compliance plan to Nasdaq, requesting more time to regain compliance with listing requirements. The company stated it expects to file its annual report for the fiscal year ending June 30, 2024, and its quarterly report for the period ending September 30, 2024, within Nasdaq’s allowed timeframe.

Nasdaq has to accept this compliance plan for Supermicro to avoid being removed from the tech-focused exchange, as the report notes.

Despite its challenges, the report highlights that Supermicro retains a competitive edge in AI racks. Its capacity for deploying liquid-cooled AI racks is 18 months to 2 years ahead of competitors such as Dell, HP, and Cisco. Additionally, the company was, until recently, NVIDIA’s third-largest customer.

On a positive note, Supermicro has just delivered the “highest-performing SuperCluster,” an advanced AI data center solution powered by NVIDIA’s Blackwell platform. This SuperCluster substantially enhances the deployment of NVIDIA HGX B200 8-GPU systems within liquid-cooled racks, as mentioned in its press release.

Supermicro has recently faced several challenges, including allegations of financial misconduct by Hindenburg Research, a delay in filing its annual report, and the resignation of its auditor. These issues have resulted in a DOJ investigation and Nasdaq’s warning that the company could face delisting, as noted in the report.

Amid these difficulties, there were expectations that the company might pause its factory expansion in Malaysia, which was projected to double its server cabinet production capacity to 10,000 units per month.

In response to inquiries from the Central News Agency, Supermicro clarified that its plans for the Malaysia facility remain unchanged, with production set to commence by the end of this year, and emphasized that customer orders are “still robust.”

Read more

• [News] Supermicro Reaffirms Unchanged Expansion Plans for Malaysia Plant, Cites Strong Order Demand
• [News] NVIDIA Rumored to Shift Supermicro Orders, Potentially Benefiting Taiwanese Suppliers

(Photo credit: Supermicro)