SMCI hit by export scandal
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 20 March 2026
⏱️ 6 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning. |
| 0:07.6 | It's good to have you here on this Friday, March 20th, the first day of spring. I'm Julie Morgan. |
| 0:15.1 | Stock futures are firmly in the green. Dow, S&P, and NASDAQ, they're all up in the range of 0.7%. Bitcoin is up 1% at 70,000. |
| 0:26.7 | Gold is up 0.5% at 4677. Crude oil is down 0.2% at $95.00. Brent crude is at 109. The Futsi 100 is up 0.2 percent and the Dax is up 0.6%. In Asia, the markets in Japan closed for a holiday. |
| 0:48.4 | Super Microcomputer is down 22 percent in pre-market action. Three individuals linked to the AI server maker, including a |
| 0:56.9 | co-founder, were charged with violating export laws by assisting in the smuggling of at least |
| 1:02.9 | $2.5 billion worth of U.S. AI technology to China. The Justice Department did not name |
| 1:09.3 | Super Micro in the complaint, referring only to a U.S. |
| 1:13.2 | manufacturer. The company said it was informed by federal prosecutors of the indictment on Thursday. |
| 1:19.2 | It noted that it was not named as a defendant in the case and said it has cooperated with |
| 1:25.0 | investigators. In the indictment unsealed on Thursday, the U.S. |
| 1:29.5 | government alleged that three individuals named Wally, Stephen, and Willie worked together to |
| 1:35.4 | violate the Export Control Reform Act. The person known as Wally, Yishin Lowe, co-founded Super Micro |
| 1:42.6 | in 1993 and joined its board of directors in 2023. |
| 1:47.9 | Stephen worked as a sales manager in the Taiwan office of Super Micro, and Willie was a contractor. |
| 1:54.4 | U.S. officials alleged the trio went to great lengths to hide their actions from both |
| 1:59.0 | U.S.-based server manufacturers and export |
| 2:02.4 | control authorities, even using hair dryers to remove labels and serial numbers from the real |
| 2:08.8 | machines and placing them on dummy machines left behind after the real machines had been shipped |
| 2:14.5 | to China. The indictment said the efforts have yielded around two and a half |
| 2:18.5 | billion dollars in sales for the server maker since 2024, with $510 million sold between late |
| 2:25.9 | April and mid-May of 2025, going to the Southeast Asian company and on to China. The plaintiff said |
... |
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