Credo Technology Group Stock Hits All-Time High on Soaring AI Products Demand [Video]

Shares of Credo Technology Group Holding (CRDO) soared 40% to an all-time high Tuesday, a day after the provider of high-speed connectivity solutions for data centers posted better-than-expected results and guidance on strong demand for products that support artificial intelligence (AI).

The company reported second-quarter fiscal 2025 adjusted earnings per share (EPS) of $0.07, with revenue surging 64% year-over-year to $72.0 million. Both exceeded expectations of analysts polled by Visible Alpha.

Product sales soared 88% to $64.4 million, and product engineering services sales jumped 90% to $4.6 million. However, IP licensing revenue tumbled 60% to just under $3.0 million.

Chief Executive Officer (CEO)Bill Brennan explained that over the past few quarters, “we have anticipated an inflection point in our revenues during the second half of fiscal 2025. I am pleased to share that this turning point has arrived.” Brennan added that Credo is “experiencing even greater demand than initially projected, driven by AI deployments and deepening customer …