"Yih-Shyan 'Wally' Liaw was charged with conspiring to smuggle about $2.5 billion worth of highly coveted Nvidia GPUs in servers to China, alongside Ruei-Tsang 'Steven' Chang and Ting-Wei 'Willy' Sun."
"Supermicro's stock plummeted in trading on Friday, giving short sellers who have collectively bet $2.6 billion against the company a windfall, with an estimated $860 million in single-day gains."
"The latest allegations of smuggling to a restricted market show striking similarities to a 20-year-old enforcement action also involving the company, founded in 1993 by Liaw, Liang, and Liu."
Supermicro's co-founder Yih-Shyan Liaw was charged with conspiring to smuggle Nvidia GPUs to China, alongside two associates. The company has not been accused of wrongdoing. Liaw resigned, and the stock fell 33%, benefiting short sellers. This incident mirrors a previous export-control violation involving Supermicro. The company is cooperating with law enforcement and was not named in the indictment. The situation raises questions about the company's compliance history and its impact on future operations.
Read at Fortune
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