SMCI’s survival strategy is a high-stakes of delay and negotiation.

Here’s how it spins:

Regulatory non-compliance pressures SMCI.

To buy time, they offer bondholders a “special dividend.” This keeps them from demanding full repayment.

The extra time lets SMCI seek a buyer or regain compliance. If successful, confidence restores, stabilizing operations.

But here’s the twist: If Nvidia doesn’t step in, it signals deeper trouble—jeopardizing not just SMCI, but the AI supply chain itself.

The stakes? An AI domino effect that could rattle markets.