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Super Micro, Once the Hottest AI Stock of 2024, Has Collapsed
This chart shows the dramatic rise and fall of Super Micro Computer Inc. in 2024. The company is a California-based server maker that sells cloud computing and artificial intelligence solutions. It is a major supplier of Nvidia-based server clusters and supplies products to large customers such as Tesla.
Supermicro shares, which once led the AI rally, lost about $50 billion in value in 2024. Now the stock is back to where it was at the start of the year.
The latest blow to Super Micro was the resignation of its auditor, EY, which said it "did not want to be associated with the financial statements prepared by management."