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 Computer filed its annual report for the year that ended June 30, meeting a deadline to stay listed on Nasdaq.

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.