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 fascinating is when the video reveals him pulling the NVIDA H200s out from a recent supply, which clearly reveals $SMCI brand on the bins he obtained…
Now earlier than any $SMCI bulls go panic-denial mode, let’s put this into context:
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**2018:**$SMCI will get yeeted off Nasdaq for “shedding” its monetary statements.
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2020: SEC Slapdown: $17.5 million superb for widespread accounting violations. The invoice is paid, and three months later $SMCI rehires the identical execs straight concerned within the fraud numbers
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2024:
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Hindenburg drops a DD bomb, accusing them of nonetheless mishandling their numbers, even accusing SMCI of “violations in US export bans”… fascinating
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Ernst & Younger resign as SMCI’s auditor after elevating considerations concerning the firm’s accounting practices, board administration… possibly they picked up on rumors of an extra income stream that was hidden within the books as properly, who is aware of.
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Lawsuits, Lawsuits In every single 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 recreation with out ever realizing, the accusation alone might set off an enormous unload. DeepSeek’s roll out despatched a get up to the US: we have misplaced the lead in our personal recreation. 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.
