$CRDO is showing how much of the AI infrastructure story happens behind the scenes. Revenue hit $479M, up 115% YoY, while management expects another step higher to $525M–$535M next quarter. At the same time, gross margins are staying above 67%, which is pretty notable for a company operating in AI infrastructure. Credo is essentially playing the connectivity layer of the AI buildout PCIe 6.0, high-speed optics, silicon photonics and 1.6T solutions. The valuation is aggressive, but if AI data centers continue demanding faster and more efficient connectivity, CRDO could remain an interesting name to watch.
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