Collect ‘spherical, I’ve stumbled upon some juicy DD that is dangerous information for any $SMCI bulls.
Yesterday, a video surfaced on X, of a Chinese language entrepreneur bragging about getting 200 NVIDIA H200 GPUs regardless of the export ban, claiming that he is performed so for the previous 5 12 months.
However the place the story will get actually attention-grabbing is when the video exhibits him pulling the NVIDA H200s out from a contemporary supply, which clearly exhibits $SMCI emblem on the packing containers he acquired…
Now earlier than any $SMCI bulls go panic-denial mode, let’s put this into context:
**2018:**$SMCI will get yeeted off Nasdaq for “shedding” its monetary statements.
2020: SEC Slapdown: $17.5 million effective for widespread accounting violations. The invoice is paid, and three months later $SMCI rehires the identical execs straight concerned within the fraud numbers
2024:
Hindenburg drops a DD bomb, accusing them of nonetheless mishandling their numbers, even accusing SMCI of “violations in US export bans”… attention-grabbing
Ernst & Younger resign as SMCI’s auditor after elevating considerations in regards to the firm’s accounting practices, board administration… possibly they picked up on rumors of a further income stream that was hidden within the books as nicely, who is aware of.
Lawsuits, Lawsuits All over the place: Ex-employees whisteblowers proceed reporting falsified income numbers and different sus accounting practices. 10-k will get “misplaced”, good one
And now this video. Positively not the PR $SMCI wants proper now.
May this be a coincidence? Unlikely. However certain, let’s assume $SMCI is simply an harmless pawn on this Chinese language GPU smuggling sport with out ever realizing, the accusation alone might set off an enormous dump. DeepSeek’s roll out despatched a get up to the US: we have misplaced the lead in our personal sport. The China-US Ai competitors has now taken central focus of the federal government and inventory market alike, so think about how this information will affect an already-beaten down inventory with new accusations cropping up every week.
