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Super Micro Computer (SMCI) announced its new liquid cooling solution to support the deployment of over 100,000 GPUs for AI factories, a move aimed at reshaping the narrative surrounding its delayed 2024 annual report. Despite ongoing challenges, the company emphasized its growing role in the technology supply chain.
Super Micro Launches Liquid Cooling Solution, Deploying 100,000 GPUs Amid Stock Stagnation
The company's success has been overshadowed by ongoing delays in filing its annual report for fiscal year 2024, even though its primary business metrics continue to grow at an impressive pace. Super Micro Computer (SMCI) is currently in a challenging position. The stock has remained unchanged since August 28, when the filing delay was announced, amid an increase in speculation following a high-profile short research report.
In an apparent effort to alter the narrative, Super Micro Computer has introduced a new "complete liquid cooling solution." This solution comprises Coolant Distribution Units (CDUs), cold plates, Coolant Distribution Manifolds (CDMs), cooling towers, and end-to-end management software. According to the company, this integrated offering decreases hardware acquisition costs and energy consumption.
In its press release, the company emphasized the deployment of over 100,000 GPUs with this liquid cooling solution for some of the largest AI factories ever constructed, in addition to other cloud service providers (CSPs). The integration of cooling solutions is essential, as they facilitate the deployment of GPUs in data centers at a higher density, as a single AI GPU rack can produce approximately 100kW of heat.
Super Micro Faces Hindenburg Allegations and Nasdaq Non-Compliance Amid Delayed Annual Report Filing
Despite this, the organization continues to contend with the repercussions of an August report by Hindenburg Research, which contained numerous grave allegations. Super Micro Computer is committed to addressing these allegations head-on. In the past three years, Hindenburg accused Super Micro Computer of distribution channel stuffing, manipulating shipment counts to inflate sales figures, rehiring executives previously implicated in accounting violations, and funneling nearly a billion dollars to non-arm's-length suppliers such as Ablecom and Compuware.
Super Micro Computer's fiscal year concluded on June 30, 2024, and it was mandated to submit its annual report by August 30. Responding to the allegations in Hindenburg's report, the corporation postponed the filing to conduct an internal review.
The Nasdaq Exchange has informed the company that it is "not in compliance" with listing rules due to the late filing, which has raised the possibility of an SEC fine. Despite these concerns, Super Micro Computer insists that the internal assessment is not anticipated to significantly impact its fiscal year 2024 or fourth-quarter financial results.
In addition to being NVIDIA's third-largest customer, Super Micro Computer is the company's most significant client and a critical component of the technology supply chain. Despite the current challenges, this strong relationship with NVIDIA underscores the strategic significance of SMCI's position in the industry and instills confidence in the company's future.
