Why Credo Technology Group Rocketed Nearly 50% Today
Shares of data center cable company Credo Technology (NASDAQ: CRDO) rocketed on Tuesday, with shares up 47.3% as of 1:11 p.m. ET.
The company reported earnings last night that not only beat analyst estimates but also delivered blowout guidance, suggesting Credo has emerged as a new artificial intelligence (AI) winner.
Credo makes a unique cable product called an active electrical cable (AEC), which connects data center servers to networking switches. The company claims its AECs take up 75% less space than Direct Attach Copper (DAC) cables and offer 50% more power efficiency versus active optical cable (AOC) alternatives.
Source Fool.com
