Super Micro's Rebound from Spying Allegations Could Bode Well for Nvidia
Dow Jones
12 hours ago
1813 ET - Super Micro Computer bounced back from allegations that it was giving trade secrets to China. Its recovery could be a promising sign that Nvidia shares will also rebound, despite CEO Jensen Huang's affair with an alleged spy. In March, Super Micro's co-founder Yih-Shyan "Wally" Liaw resigned from the board after being indicted for his alleged role in a scheme to smuggle Nvidia chips to China. Shares plummeted after his departure, but have rebounded 48% since their low on March 20. Nvidia's board is reportedly planning to oust Huang after his affair with a Chinese executive allegedly involved in espionage. Nvidia shares are down 8% after-hours, after losing 11% over the past five days.
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