Supermicro Slumps on Alleged Export Violations Link

Super Micro Computer Inc., maker of high-performance servers and other data center equipment, saw its shares plummet by more than 9% in extended trading hours on Thursday after it clarified its connection to an alleged conspiracy to commit export control violations.

The U.S. Attorney's Office for the Southern District of New York had alleged that three executives associated with Supermicro were involved in a scheme to smuggle Nvidia GPUs into China without a license from the Department of Commerce.

Supermicro said it was cooperating with the government's investigation and had placed its two employees on administrative leave, as well as terminated its relationship with a contractor.