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International Business Times

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Supermicro Stock Crashes 33% After Co-Founder Arrested in $2.5 Billion Nvidia Chip Smuggling Scheme Tied to China

Nvidia YihShyan Wally Liaw SuperMicro China Super Micro Chang United States SMCI Chris McGuire Sun

Super Micro Computer's San Jose, California headquarters. Shares of the server maker collapsed 33% Friday after federal prosecutors arrested co-founder Wally Liaw on charges of smuggling Nvidia AI chips to China. (Credit: By SMCI - Own work, CC BY-SA 4.0, https://commons.wikimedia.org/w/index.php?curid=128284003)

Shares of Super Micro Computer Inc. (Nasdaq: SMCI) suffered one of the most dramatic single-day collapses in its history on Friday, plummeting 33% after federal prosecutors arrested the company's co-founder on charges that he secretly funneled billions of dollars' worth of Nvidia-powered AI servers to China — in direct violation of U.S. export control laws designed to protect national security.

Federal agents arrested Yih-Shyan "Wally" Liaw, 71, a prominent Silicon Valley executive who co-founded Supermicro in 1993 and is described as a close confidante of CEO and chairman Charles Liang. The arrest sent the stock tumbling more than 12% in after-hours trading on Thursday before the full weight of the indictment crushed shares in Friday's regular session.

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