Super Micro Computer falls after report says company offices raided in Taiwan
BUZZ-Super Micro Computer falls after report says company offices raided in Taiwan Updates
** Shares of AI server maker Super Micro Computer SMCI.O fall 8.9% to $27.89 in afternoon 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, Bloomberg News reports
** Local investigators raided the residences of six individuals and the sites of three affiliated companies - report
** "We are working closely with Taiwanese authorities on recent events," Super Micro says when contacted by 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)
((Jaspreet.Singh@thomsonreuters.com ; https://twitter.com/i_jass))
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Super Micro Computer falls after prosecutors say company offices raided in Taiwan
Super Micro Computer falls after report says company offices raided in Taiwan
Super Micro Computer falls after report says company offices raided in Taiwan