Shares of Super Micro Computer (SMCI) (SMCI) soared 23% on Monday morning following the announcement that an independent special committee had concluded its investigation into the company’s operations and found no evidence of misconduct by the company’s management or Board of Directors.

Shares of Super Micro Computer (SMCI) surged over 30% on Monday after the release of a special committee report reaffirmed there was "no evidence of misconduct" within the company's leadership. The embattled AI server maker,

The server maker said evidence reviewed by its special committee didn’t raise substantial concerns about its senior management or audit committee.

Super Micro Computer Inc. said an external review of its business by a special committee of its board and external counsel found no evidence of wrongdoing and that the company will appoint new top financial leadership.

The server maker has been a part of the frenzy around artificial intelligence companies and has had big swings, moving up or down by 10% or more in 10 of November’s 19 trading days.

SMCI stock jumped Monday after Supermicro announced that a probe by an independent committee found no evidence of fraud.

Super Micro Computer (NASDAQ:SMCI) was up around 13% on Monday after an independent special committee found no evidence of misconduct by the board of directors or audit cozsxmmittee. No restatement of reported financials is expected based on the findings on the review.