Description
Super Micro’s $13 Billion Gamble: Will It Pay Off or Implode?
Super Micro Computer has endured one of the most turbulent years in recent tech market memory. Once celebrated as a high-flyer in the AI infrastructure boom, the company has spent much of 2025 trying to restore credibility and regain investor confidence. After peaking above $120 in early 2024, SMCI shares are now trading over 70% below those highs. This collapse stemmed from a chain of disruptive events — an accounting scandal, auditor resignations, and the looming threat of delisting from Nasdaq early in the year. Although a February rebound followed the delayed financial filings, the bounce was short-lived. Internal control deficiencies flagged by new auditor BDO, disappointing earnings in April and November, and investigations regarding alleged misuse of servers to smuggle chips only exacerbated concerns. As the AI trade cooled off and SMCI faced intensified scrutiny, investors fled.
