Super Micro Computer (SMCI.US) rose nearly 16% after reporting positive shipment data.

Microchip Technology (SMCI.US) shares jumped on Monday after the semiconductor company reported positive shipment data.

Microchip's shares rose 15.79% to $47.74, the biggest single-day gain since March 4, according to Dow Jones Market Data. The stock had split 1-for-10 last week and has risen 70% this year, making it the best performer in the S&P 500 on Monday.

The company announced on Monday that it had deployed more than 100,000 GPUs equipped with liquid cooling solutions for some of the world's largest artificial intelligence factories. The estimated total value of these orders could be in the billions of dollars, according to media reports.

Some of the GPUs may have been sent to xAI, an artificial intelligence company founded by Elon Musk, the CEO of Tesla (TSLA.US), in 2023. Microchip did not respond to a request for comment from the media.

Microchip's CEO, Long Jen-hao, thanked Musk on his social media platform X in July for his leadership in promoting liquid cooling technology for large artificial intelligence data centers.

The announcement reassured investors as it showed that Microchip's server demand remained strong despite the company's recent negative news, including short reports and the delayed submission of its 10-K filing. Microchip's shares have fallen 59% since hitting a record closing high of $118.81 on March 13. The short reports alleged "obvious accounting issues, undisclosed related party transactions, violations of sanctions and export controls, and customer issues."

Moreover, Microchip delayed the submission of its 10-K report for the fiscal year ended June 30 in August. The company said it needed more time to allow management to assess the "design and operational effectiveness" of its internal financial reporting controls.