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Charles Liang, CEO of Super Micro Computer Inc., during the Computex conference in Taipei, Taiwan, on June 5, 2024.

Annabelle Chih | Bloomberg | Getty Images

Super Micro, the embattled server maker that’s late in releasing annual financials and at risk of being delisted by the Nasdaq, reported unaudited quarterly results on Tuesday.

The stock dropped 17% in extended trading after the company’s revenue trailed estimates, guidance came in weaker than expected, and Super Micro said it doesn’t know when it will file annual results for the latest fiscal year.

Super Micro shares plummeted last week after Ernst & Young, the company’s auditor, resigned. The company faces accusations from an activist of accounting irregularities and that it’s shipped sensitive chips to sanctioned nations and companies, violating export controls.

On a call with analysts on Tuesday, the company said it wouldn’t discuss any questions related to Ernst & Young’s decision to resign and didn’t address corporate governance issues. CEO Charles Liang said Super Micro was actively in the process of hiring a new auditor.

Super Micro faces potential delisting from the Nasdaq stock exchange if it doesn’t file its annual report with the SEC by mid-November. The company hasn’t reported audited results since May.

“We are working with urgency to become current again with our financial reporting,” Liang said on the call.

For the quarter ending Sept. 30, Super Micro said it generated net sales of between $5.9 billion and $6 billion. That’s under analyst expectations of $6.45 billion, but is still up 181% on an annual basis. The company’s business has been booming of late because it ships servers packed with Nvidia’s processors for artificial intelligence.

Analysts asked whether sales would increase if the problems were resolved or if Super Micro planned to add senior management to improve its financial reporting. Liang instead discussed the latest Nvidia GPU, called Blackwell, which has only in recent weeks started shipping, and said demand is strong.

When asked by an analyst when Blackwell revenue might show up in Super Micro’s financials, Liang said that “we are asking Nvidia every day” and that the companies continue to work together closely.

“Our capacity is ready, but not enough new chips,” Liang said.

Nvidia is leaps and bounds ahead of AMD on the AI story, says Susquehanna's Christopher Rolland

Analysts asked if the company’s plans for building Blackwell-based servers had changed, which could suggest that other server makers might receive additional capacity or allocations of Nvidia’s GPUs at Super Micro’s expense.

“To clarify one of the comments from earlier with respect to Nvidia, we have the deepest of relationships with Nvidia,” CFO David Weigand said. “Now we have multiple state-of-the art-projects in progress and we’ve spoken to Nvidia and they’ve confirmed they’ve made no changes to allocations. We maintain a strong relationship with them, and don’t expect that to change.”

Adjusted net income for the quarter was 75 cents to 76 cents a share, in line with analyst expectations compiled by LSEG.

Super Micro’s forecast for the December quarter was also below estimates. The company said revenue will be between $5.5 billion and $6.1 billion, trailing the $6.86 billion average analyst estimate, according to LSEG. Adjusted earnings per share will be 56 cents to 65 cents. Analysts were looking for EPS of 83 cents.

Super Micro said on Tuesday that its board of directors had commissioned a special committee to look into Ernst & Young’s concerns. In a three-month investigation, the committee found there was “no evidence of fraud or misconduct” from management, the company said.

“The Committee is recommending a series of remedial measures for the Company to strengthen its internal governance and oversight functions, and the Committee expects to deliver the full report on the completed work this week or next,” Super Micro said, adding that it intends to take all steps to keep its listing on Nasdaq.

Super Micro shares soared 246% last year after jumping 87% in 2023. The stock peaked at $118.81 in March, shortly after being added to the S&P 500.

The company has since lost almost 80% of its value, wiping out over $55 billion in market cap.

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Super Micro shares down on earnings, says investigation finds 'no evidence of fraud or misconduct'

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Musk says Tesla is expanding Austin robotaxi service, adding Grok to cars

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Musk says Tesla is expanding Austin robotaxi service, adding Grok to cars

Tesla CEO Elon Musk attends an opening ceremony for Tesla China-made Model Y program in Shanghai, China, on Jan. 7, 2020.

Aly Song | Reuters

Tesla CEO Elon Musk said the company is expanding its robotaxi service area and bringing xAI’s Grok to vehicles as it rolled out a new iteration of the artificial intelligence chatbot.

Shares gained about 3%.

Musk said on X that Grok, his AI chatbot that praised Adolf Hitler and posted a barrage of antisemitic comments recently, will be available in Tesla vehicles “next week at the latest.”

xAI officially launched the Grok 4 update overnight as the company continued to face backlash for the vitriol written by the chatbot.

In response to a user post on his social media platform X, Musk said the company is expanding its Austin, Texas robotaxi service area this weekend. He also said Tesla is awaiting regulatory approval for a launch in the Bay Area “probably in a month or two.”

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The expansion of robotaxi and Grok integration comes at a fraught time for Musk and his empire.

Tesla set its annual shareholder meeting for Nov. 6, a Thursday filing showed. A group of investors recently called on the electric vehicle company to schedule the meeting.

Its last shareholder meeting was in June 2024, as Musk established himself as a major backer of President Donald Trump‘s reelection campaign. Musk later led the Trump administration’s Department of Government Efficiency, known as DOGE.

After stepping down from DOGE at the end of May, Musk has openly feuded with Trump on social media over the major tax bill, with the president suggesting the government look at cutting contracts for Musk’s companies.

Shares have tanked from their post-election high over investor concerns that the public fight could hamper Tesla. Slowing sales and rising competition also stifled some investor appetite.

Tesla shares fell Monday, with the company losing $68 billion in value after Musk continued to blast Trump’s “Big Beautiful Bill” and said he was establishing his own political party, the “America Party.”

The world’s richest man suffered another blow Wednesday when Linda Yaccarino stepped down as CEO of his social media platform X, leaving the role after a turbulent two years for the company.

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Amazon Web Services is building equipment to cool Nvidia GPUs as AI boom accelerates

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Amazon Web Services is building equipment to cool Nvidia GPUs as AI boom accelerates

The letters AI, which stands for “artificial intelligence,” stand at the Amazon Web Services booth at the Hannover Messe industrial trade fair in Hannover, Germany, on March 31, 2025.

Julian Stratenschulte | Picture Alliance | Getty Images

Amazon said Wednesday that its cloud division has developed hardware to cool down next-generation Nvidia graphics processing units that are used for artificial intelligence workloads.

Nvidia’s GPUs, which have powered the generative AI boom, require massive amounts of energy. That means companies using the processors need additional equipment to cool them down.

Amazon considered erecting data centers that could accommodate widespread liquid cooling to make the most of these power-hungry Nvidia GPUs. But that process would have taken too long, and commercially available equipment wouldn’t have worked, Dave Brown, vice president of compute and machine learning services at Amazon Web Services, said in a video posted to YouTube.

“They would take up too much data center floor space or increase water usage substantially,” Brown said. “And while some of these solutions could work for lower volumes at other providers, they simply wouldn’t be enough liquid-cooling capacity to support our scale.”

Rather, Amazon engineers conceived of the In-Row Heat Exchanger, or IRHX, that can be plugged into existing and new data centers. More traditional air cooling was sufficient for previous generations of Nvidia chips.

Customers can now access the AWS service as computing instances that go by the name P6e, Brown wrote in a blog post. The new systems accompany Nvidia’s design for dense computing power. Nvidia’s GB200 NVL72 packs a single rack with 72 Nvidia Blackwell GPUs that are wired together to train and run large AI models.

Computing clusters based on Nvidia’s GB200 NVL72 have previously been available through Microsoft or CoreWeave. AWS is the world’s largest supplier of cloud infrastructure.

Amazon has rolled out its own infrastructure hardware in the past. The company has custom chips for general-purpose computing and for AI, and designed its own storage servers and networking routers. In running homegrown hardware, Amazon depends less on third-party suppliers, which can benefit the company’s bottom line. In the first quarter, AWS delivered the widest operating margin since at least 2014, and the unit is responsible for most of Amazon’s net income.

Microsoft, the second largest cloud provider, has followed Amazon’s lead and made strides in chip development. In 2023, the company designed its own systems called Sidekicks to cool the Maia AI chips it developed.

WATCH: AWS announces latest CPU chip, will deliver record networking speed

AWS announces latest CPU chip, will deliver record networking speed

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Bitcoin rises to fresh record above $112,000, helped by Nvidia-led tech rally

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Bitcoin rises to fresh record above 2,000, helped by Nvidia-led tech rally

The logo of the cryptocurrency Bitcoin can be seen on a coin in front of a Bitcoin chart.

Silas Stein | Picture Alliance | Getty Images

Bitcoin hit a fresh record on Wednesday afternoon as an Nvidia-led rally in equities helped push the price of the cryptocurrency higher into the stock market close.

The price of bitcoin was last up 1.9%, trading at $110,947.49, according to Coin Metrics. Just before 4:00 p.m. ET, it hit a high of $112,052.24, surpassing its May 22 record of $111,999.

The flagship cryptocurrency has been trading in a tight range for several weeks despite billions of dollars flowing into bitcoin exchange traded funds. Bitcoin purchases by public companies outpaced ETF inflows in the second quarter. Still, bitcoin is up just 2% in the past month.

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Bitcoin climbs above $112,000

On Wednesday, tech stocks rallied as Nvidia became the first company to briefly touch $4 trillion in market capitalization. In the same session, investors appeared to shrug off the latest tariff developments from President Donald Trump. The tech-heavy Nasdaq Composite notched a record close.

While institutions broadly have embraced bitcoin’s “digital gold” narrative, it is still a risk asset that rises and falls alongside stocks depending on what’s driving investor sentiment. When the market is in risk-on mode and investors buy growth-oriented assets like tech stocks, bitcoin and crypto tend to rally with them.

Investors have been expecting bitcoin to reach new records in the second half of the year as corporate treasuries accelerate their bitcoin buying sprees and Congress gets closer to passing crypto legislation.

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