US charges Super Micro co-founder with smuggling billions in Nvidia chips to China; SMCI drops 11.85%

Federal prosecutors charged the co-founder of Super Micro Computer with smuggling billions in Nvidia AI chips to China, Bloomberg reported. SMCI shares dropped 11.85%. The indictment alleges a scheme to divert Nvidia GPUs to Chinese entities through intermediary companies, circumventing US export restrictions. The charges represent one of the most significant enforcement actions under the US chip export control regime.