Super Micro Computer (SMCI) stock surged more than 16% Wednesday morning after the AI hardware maker filed its long-awaited financial reports, alleviating delisting concerns on the Nasdaq that had loomed since last year.

Super Micro (SMCI) is jumping 19% after the tech giant unveiled its fiscal 2024 financial results late yesterday. The move allowed the company, which also made some cautious comments in conjunction with the report,

Super Micro (SMCI) stock fell roughly 10% Tuesday afternoon as the company approached its deadline from the Nasdaq to submit delayed regulatory filings in order to avoid delisting. Super Micro Computer makes server products using Nvidia's (NVDA) AI chips for data centers.