Super Micro Computer said Friday that co-founder Yih-Shyan Liaw has stepped down from its board, effective immediately, after being charged with involvement in a scheme to smuggle billions of dollars’ worth of AI chips to China.

Shenzhen China Micro Semicon said on Tuesday it is raising prices for several semiconductor products by between 15% and 50%, citing a “severe” imbalance between supply and demand as well as rising production costs.

Nvidia has agreed to license artificial intelligence chip technology from startup Groq and hire several of its top executives, including its chief executive officer, in a deal that reflects a growing trend among major technology companies to acquire talent and intellectual property without pursuing full takeovers.

Recent volatility in U.S. equity markets underscores a risk that strategists at JPMorgan Chase & Co. have been highlighting: “extreme crowding” in stocks that have seen significant rallies this year.

Nvidia and Menlo Micro have announced a collaboration that dramatically accelerates testing of Nvidia’s AI chips, helping to ease a critical production bottleneck.

Super Micro Computer’s shares dropped more than 9% in premarket trading on Wednesday after the AI-focused server manufacturer missed its quarterly profit and revenue targets, attributing the shortfall to delayed deliveries caused by design modifications,News.Az reports, citing Reuters. 

Super Micro (SMCI) stock plunged more than 26% this week, extending the stock’s long streak of volatility as investors weigh the company’s AI-fueled growth against questionable accounting practices, growing competition, and macroeconomic uncertainties.

Super Micro (SMCI) surged over 25% in premarket trading on Wednesday after the company met a Nasdaq deadline to submit delayed regulatory filings, thereby avoiding delisting.