Supermicro reported that the board has appointed BDO USA as the company’s independent accounting firm, replacing Ernst & Young, who requested to resign as auditors. This change took immediate effect. BDO is a major global accounting firm with branches worldwide.
Additionally, Supermicro stated that the company has filed a market extension plan with NASDAQ to extend the deadline for filing reports in accordance with the company’s securities trading regulations. It is expected that the annual report (10-K) will be filed by the end of June 2024, and the quarterly report (10-Q) will be filed by the end of September 2024, pending approval from NASDAQ.
If Supermicro’s proposed plan is approved, the company will have until mid-February next year to submit financial reports.
On the same day, Supermicro also introduced a server for AI workloads to support NVIDIA’s new Blackwell chip, designed in a liquid-cooled data center form factor, featuring the largest liquid-cooled GPU with 100,000 cores in collaboration between Supermicro and NVIDIA.
Supermicro’s stock price rose by 16% following the announcement of these plans.
Source: Supermicro [1], [2] and Reuters
TLDR: Supermicro appoints BDO USA as independent auditors, files market extension plan with NASDAQ, introduces AI server for NVIDIA’s Blackwell chip, stock price increases by 16%.
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