Credo Technology Group Holding Ltd (CRDO)

Credo designs, markets and sells high-speed connectivity solutions for data infrastructure, with a focus on the demands of AI. Its products are built on its own optimized Serializer/Deserializer (SerDes) and Digital Signal Processor (DSP) technologies, and they support optical and electrical Ethernet, PCIe and emerging UALink, ESUN and SUE applications at speeds from 32G to 200G per lane. The company says its architecture delivers performance similar to leading competitors at lower cost and power by using mature, more available process nodes. Revenue was $1.3 billion in fiscal 2026, up from $436.8 million in fiscal 2025.

The portfolio spans integrated circuits (ICs), Active Electrical Cables (AECs), SerDes Chiplets and SerDes IP licensing. Main offerings are ZeroFlap AECs (the CLOS, SPAN, SHIFT and SWITCH families, at 100G to emerging 1.6T); optical PAM4 DSPs, including the Seagull, Dove, Lark, Robin and 200G-per-lane Bluebird families; and ZeroFlap optical transceivers, developed with Oracle to address link flaps. It also offers OmniConnect, whose first product, Weaver, is a memory fanout gearbox; SerDes Chiplets; Toucan PCIe Gen6/CXL retimers; and microLED solutions such as Active LED Cables. The proprietary PILOT diagnostic and analytics software platform runs across its SerDes, retimers and AECs.

Credo sells to hyperscalers, NeoClouds and other cloud infrastructure providers, as well as to OEMs, ODMs, contract manufacturers, optical module manufacturers, and enterprise and HPC customers. It says it is engaged with all major hyperscalers and has over 20 blue chip clients. Customer concentration is high: the top 10 customers made up about 90% of fiscal 2026 revenue, and two customers each accounted for 10% or more. Demand drivers include AI/ML back end scale-out and scale-up networks, doubling hyperscaler front end NIC speeds, 5G and fixed-line networks, and evolving PCIe and USB standards. The company sells worldwide through a direct sales force with a presence in North America, Asia and Europe.

Credo is fabless. It used TSMC exclusively for wafer production in fiscal 2026. It relies on third parties for packaging, assembly and testing: Amkor and ASE package its ICs, KYEC and Sigurd test them, and BizLink manufactures its AECs. Its engineers, 616 as of May 2, 2026, are located in San Jose, California; Pittsburgh, Pennsylvania; Canada; mainland China; Hong Kong; and Taiwan. R&D expense was $279.4 million in fiscal 2026. It protects its technology through patents, trade secrets, copyrights and trademarks, and owned 86 issued U.S. patents and 52 issued patents in mainland China as of May 2, 2026. The text names competitors only generally and does not state the headquarters location.