在美国以 Super Micro Computer Inc. 的共同创办人 Yih-Shyan “Wally” Liaw 涉嫌向中国非法走私 Nvidia 人工智慧晶片起诉数小时后，深圳的 Sharetronic Data Technology Co. 先涨后跌至每日跌停的 20%，随后在深圳市场又下跌约 10%，成为 MSCI Asia 指数中表现最差的成分股之一。Sharetronic 表示其硬体采购遵循规定，并重申与 Super Micro 没有任何业务合作关系。然而，Bloomberg 查阅的公开文件显示该公司曾采购数百台搭载 Nvidia H100／H200 晶片的 Super Micro 系统。2025 年 5 月和 6 月的两张发票显示，向新设子公司售出 276 台 SYS-821GE-TNHR 伺服器，金额为 6.32 亿人民币（USD 9200 万），但自 2022 年起美国禁止在未经华府许可的情况下将此类产品销往或流入中国。
虽然相对于美中大型科技企业在人工智慧资料中心上的巨额支出而言，这些数量不大，但仍显示中国对受限美国硬体仍有持续需求。Sharetronic 作为一家较小的伺服器租赁企业，称这些美国设备用于向客户提供运算服务。此次事件也暴露出合规执行缺口：Nvidia 表示其客户被明确要求在未获美国批准前不得提供受控伺服器、支援或服务，而 Super Micro 则称 Sharetronic 从未是其客户。即便如此，公开文件仍暗示相关晶片已经进入中国实体。
Sharetronic 的扩张背景与 Fcloud 有关。其于 2024 年成立的深圳合作企业广州 Fcloud Technology Co. 成为 Nvidia Cloud Partner（NCP），在中国只有 8 家、全球 59 家。此后 Sharetronic 宣布规划采购 322 亿人民币 AI 硬体并积极融资，后来又将提交给中国央行监管下征信机构的抵押性发票与税务资料对账，匹配到 17 张发票，共约 60 亿人民币，约占公开规划的五分之一。这些材料记录了 276 台 Super Micro 及 32 台 Dell PowerEdge XE9680 设备，但到 2025 年 5 月，这些平台可搭载的美国晶片选项基本都在美国管制之列。Dell 与 Nvidia 都未确认上述争议性销售，美国检方也未证实 Sharetronic 是否在所称 25 亿美元 smuggling case 的未具名中国客户之一。
Hours after the United States charged Super Micro Computer Inc. co-founder Yih-Shyan “Wally” Liaw with smuggling Nvidia AI chips to China, Sharetronic Data Technology Co. in Shenzhen fell 20% at its daily limit, and its Shenzhen shares then fell about another 10%, making it one of the weakest names in the MSCI Asia Index. Sharetronic said hardware purchases followed regulations and reiterated it had no business cooperation with Super Micro. Bloomberg-checked public records, however, show Sharetronic procured hundreds of Super Micro systems containing Nvidia H100/H200 chips. Two invoices from May and June 2025 show a sale of 276 SYS-821GE-TNHR servers to a new subsidiary for 632 million yuan (USD 92 million), even though since 2022 the U.S. has banned such products from being sold into or within China without Washington permission.
Although these amounts are small compared with AI-data-center spending by major U.S. and Chinese firms, they still indicate sustained demand for restricted U.S. hardware in China. Sharetronic, a smaller server-rental operator, says imported U.S. equipment supports computing services for customers. The case also exposes enforcement gaps: Nvidia says its customers are instructed not to provide controlled servers, support, or service without U.S. approval, while Super Micro says Sharetronic was never its customer. Yet public filings still suggest restricted chips reached Chinese entities.
Sharetronic’s expansion is tied to Fcloud. Its 2024 Shenzhen-linked partner venture, Guangzhou Fcloud Technology Co., became an Nvidia Cloud Partner (NCP), one of 8 in China and 59 worldwide. Sharetronic then announced plans to procure 32.2 billion yuan of AI hardware and raised financing, later matching financing collateral invoices with tax records to identify 17 invoices totaling about 6 billion yuan, roughly one-fifth of the disclosed plan. The documents listed 276 Super Micro units and 32 Dell PowerEdge XE9680 systems, but by May 2025 all feasible U.S.-chip options for those platforms were already under U.S. controls. Dell and Nvidia did not confirm the contested sales, and U.S. authorities have not said whether Sharetronic was among the unnamed Chinese customers in the alleged 2.5 billion dollar smuggling case.