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supercomputer Facebook shares fell more than 12% on Thursday after the Justice Department reportedly opened an investigation into the company, which has been a major beneficiary of the artificial intelligence boom.
The investigation into the matter is still in its early stages, according to a report by the Wall Street Journal, and comes after Hindenburg Research disclosed a short position in the company in late August. Hindenburg said it had identified “new evidence of accounting manipulation,” according to its report. CNBC could not independently verify Hindenburg’s claims.
Supermicro makes computers that businesses use as web servers, data storage and other applications, including artificial intelligence algorithms. The company’s customers include major AI companies such as Nvidia, AMD and Intel.
The U.S. Attorney's Office in San Francisco has requested information about a former employee who previously accused Super Micro of accounting violations, the newspaper reported.
Following the Hindenburg report in August, Super Micro announced that it would not file its fiscal year-end report with the SEC on time, sending its shares down about 20%. It’s not clear whether the delay was related to the company’s report.
Hindenburg, Super Micro and the Justice Department did not immediately respond to CNBC's requests for comment.
