Super Micro Computer Update

(Reuters) – Super Micro Computer (NASDAQ:SMCI) announced on Friday it received an extension from Nasdaq until Feb. 25 to file delayed annual and quarterly reports, causing a 5% increase in its shares during extended trading.

Last month, Super Micro appointed BDO USA as its auditor and submitted a compliance plan to the stock exchange after struggling with its annual report submission in August.

The delay was attributed to the need to evaluate "its internal controls over financial reporting", coinciding with Hindenburg Research revealing a short position.

Super Micro anticipates filing all required reports by Feb. 25 to maintain its Nasdaq listing. Demand for the company’s AI servers featuring liquid cooling technology has surged as enterprises seek hardware for artificial intelligence applications.

Additionally, on Monday, the company initiated a search for a new finance chief based on a special committee's recommendations to investigate its accounting practices.