Short-seller Scorpion Capital is taking aim at one of the biggest-trading stocks in the world. The $23 billion Japanese semiconductor equipment manufacturer Lasertec has ridden the AI wave, with more than a 25% bump to its share price since last fall—but Scorpion is accusing the company of being a “ticking time bomb” and “colossal fraud” that’s been faking its financials.
Lasertec is one of dozens of companies that have seen their valuations skyrocket due to demand from AI developers, who have piled into manufacturers behind the global supply chain providing the advanced semiconductors and massive quantities of energy needed to power AI models.
