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Investors once treated Super Micro Computer (SMCI) as a clean proxy for the artificial intelligence (AI) buildout. The company rode a powerful demand wave, strengthened its ties with NVIDIA Corporation (NVDA), and embedded itself deep within the architecture of modern data centers.
But now a legal overhang has begun to cast a long shadow, forcing investors to reevaluate risk even as the core business continues to expand at pace. The issue traces back to two individuals tied to the company: co-founder Wally Liaw and contractor Willy Sun, who have pleaded not guilty in a U.S. court over allegations of the illegal shipment of Nvidia-powered servers to China.