Super Micro Computer (NASDAQ:SMCI) jumped over 78% this week after the artificial intelligence server maker appointed BDO USA as its new independent auditor and submitted a compliance plan with the Nasdaq.

Super Micro Computer on Monday named BDO USA as its auditor and said it has submitted a plan to the Nasdaq seeking additional time to regain compliance with the listing rules, sending its shares surging 25% in extended trading.

The Details: Super Micro, in the compliance plan, said it believes it will be able to file both its 2024 fiscal-year earnings and its 2025 fiscal-year first-quarter earnings within Nasdaq’s acceptable discretionary time.

Supermicro disclosed that it has submitted a compliance plan to Nasdaq to support its request for an extension to allow the firm to regain compliance with the requirements for continued listing. It is understood that the business will remain listed pending Nasdaq's review of the compliance plan.

The Nvidia-adjacent server maker hired BDO USA after its former auditor quit because it couldn’t trust the management team or the board of directors.

Super Micro Computer (NASDAQ:SMCI) on Wednesday said it has received a notification letter from Nasdaq, stating that the company is not in compliance with listing rules, which requires timely filing of reports with the U.

Supermicro has yet to issue its financial statements for this year, delaying them a day after short-seller Hindenburg Research claimed that it found evidence of related party transactions that had not been disclosed, a failure to abide by export controls, and other issues.

The server maker said it believes it will be able to complete its annual report on Form 10-K within the discretionary period available to the Nasdaq staff to grant.

Super Micro Computer has appointed an independent auditor and submitted a plan with Nasdaq to comply with listing requirements. In a statement, Super Micro said its board engaged BDO USA, P.C. as its auditor,