Chinese Nvidia Cloud Partner procured 300 servers with banned AI GPUs worth $92 million — shares of data center supplier Sharetronic plummet following Super Micro smuggling arrest

Invoice records from China’s State Taxation Administration reveal that Sharetronic Data Technology Co., a Chinese firm that sells and rents AI servers, procured almost 300 servers containing banned Nvidia AI chips, which it sold to a Shenzhen subsidiary to the tune of $92 million. According to Bloomberg, while it isn’t clear which specific chips were contained within the servers or where they were sourced from, all options would have been subject to U.S. export controls to China at the time.

Sharetronic sold 276 Super Micro SYS-821GE-TNHR and 32 Dell PowerEdge XE9680 servers to a Shenzhen subsidiary in May and June 2025, the former containing banned Nvidia H100 or H200 chips. The product page for the Super Micro server says that it has “support for Nvidia HGX H100/H200 8-GPU,” while Dell’s tech specs list the Nvidia HGX H100, Nvidia HGX H200, Nvidia HGX H20, AMD Instinct MI300X, and Intel Gaudi 3 as compatible accelerators. As Bloomberg notes, all of these options were subject to U.S. export controls at the time of the date on these invoices.

The U.S. banned the export of these high-performance AI accelerators in 2022 — well before Super Micro and Dell first shipped these AI servers. This makes it unlikely that the invoiced items are old stock bought before the bans, which some companies stockpiled to have enough supply for up to 18 months. Still, Dell denies any wrongdoing, telling the publication that there is “no record of the alleged sales. If we determine…