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) 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.

Super Micro Computer Inc. stock was falling on a crucial day for the artificial-intelligence server maker. The Nasdaq set Tuesday as the deadline for the company to file its already delayed financials for the full fiscal year ended June 30 and the three months ended Sept.