Super Micro Computer falls after prosecutors say company offices raided in Taiwan

Super Micro Computer

Yesterday 04:24

Updates share data and the government statement in bullets 1-3
** Shares of AI server maker Super Micro Computer SMCI.O closed down 8.1% to $28.15 on Monday. They recovered about 1.42% in after-hours trading
** SMCI's offices in Taiwan were raided by government authorities, widening an investigation into the alleged smuggling of Nvidia NVDA.O chips into China using the company’s servers, the Taiwan Keelung District Prosecutors Office said in a statement on Monday
** Local investigators raided the residences of six individuals and the sites of three affiliated companies, according to the statement
** "We are working closely with Taiwanese authorities on recent events," Super Micro said in a statement to Reuters
** "Supermicro products have continued to be targeted in these matters, and we continue to cooperate with law enforcement and government officials in Taiwan and other jurisdictions in which we operate to ensure our technology is distributed as lawfully intended" - SMCI
** Up to last close, stock up ~5% this year

(Reporting by Jaspreet Singh in Bengaluru, additional reporting by Wen-Yee Lee in Taipei)
((Jaspreet.Singh@thomsonreuters.com ; https://twitter.com/i_jass))