EY had been hired to audit Super Micro for the first time for the 2024 fiscal year, the company said. Super Micro makes computers that companies use as servers for websites, data storage and other applications, including AI algorithms. Shares of Super Micro, which joined the S&P 500 in March, surged 246% in 2023. EY's concerns were raised prior to a short-seller report that took aim at Super Micro's financial controls and accounting practices. The company hired law firm Cooley and a forensic accounting firm to review Super Micro's internal controls.

---

Persons: Ernst & Young, Charles Laing, EY, Cooley, Young Organizations: Nvidia, AMD, Intel, Securities and Exchange Commission, Super Micro, Ernst