Welcome to our dedicated page for CREDO TECHNOLOGY GROUP HOLDING news (Ticker: CRDO), a resource for investors and traders seeking the latest updates and insights on CREDO TECHNOLOGY GROUP HOLDING stock.
Credo Technology Group Holding Ltd develops high-speed connectivity solutions for data infrastructure, AI, cloud computing and hyperscale networks. News about CRDO centers on product launches and technology updates for optical and electrical Ethernet applications, including Active Electrical Cables, optical transceivers, optical DSPs, SerDes chiplets, retimers and SerDes IP licensing.
Recurring updates also cover Credo product families and platforms such as ZeroFlap, OmniConnect, Weaver, Robin, Cardinal and PILOT, as well as participation in semiconductor technology events, environmental reporting, financial results, capital actions, governance matters and intellectual-property settlements tied to AEC technology.
Credo Technology Group (NASDAQ: CRDO) announced its participation in the Chiplet Summit Conference and Exhibition from January 21-23 at the Santa Clara Convention Center, where it will exhibit in booth 317. The company will showcase its portfolio of chiplet and IP solutions, highlighting the new 112G PAM4 SerDes IP family in TSMC's N5 process technology.
The SerDes IP family supports various ranges including long reach plus (LR+), long reach (LR), medium reach (MR), and very short reach plus (VSR+), targeting applications in AI, machine learning, high performance compute, switching, security, and optical deployments. Additionally, Jeff Twombly, VP of Business Development, will participate in a panel discussion titled 'Making Chiplets a Viable Market' on Thursday, January 23rd at 9:00am PST.
Credo Technology Group reported strong Q2 FY2025 financial results with revenue of $72.0 million, showing 20.6% quarter-over-quarter and 63.6% year-over-year growth. The company achieved a GAAP gross margin of 63.2% and recorded a GAAP net loss of $(4.2) million, or $(0.03) per share. Total product revenue reached $69.1 million. Looking ahead, Credo provided Q3 FY2025 guidance with expected revenue between $115.0-125.0 million and GAAP gross margin between 60.6-62.6%. The company ended the quarter with $383.0 million in cash and short-term investments.
Credo Technology Group (NASDAQ: CRDO) has announced its participation in the Barclays 22nd Annual Global Technology Conference. President and CEO Bill Brennan and CFO Dan Fleming will present at the event on December 11, 2024, at 2:30 p.m. PT in San Francisco, California. The presentation will be accessible through a live webcast on Credo's investor relations website, with a replay available shortly after the event.
Credo Technology Group (NASDAQ: CRDO) has released its 2024 Environmental, Social, and Governance (ESG) Report, highlighting the company's commitment to environmental stewardship, diversity, and ethical governance. The report showcases expanded efforts in Greenhouse Gas (GHG) emissions measurement, community engagement, and workplace inclusivity initiatives.
The report emphasizes Credo's focus on responsible growth alongside delivering energy-efficient technology solutions that help customers reduce their environmental impact. President & CEO Bill Brennan emphasized that ESG integration is fundamental to building a future aligned with the company's values of responsibility, transparency, and accountability.
Credo Technology Group (NASDAQ: CRDO) has completed its first Greenhouse Gas (GHG) emissions and carbon footprint calculation for 2023, partnering with environmental consultancy Minimum. The assessment focused on Scope 1 and Scope 2 emissions, covering direct office emissions and indirect emissions from purchased electricity and heating. The company has already transitioned its San Jose facilities to 100% renewable energy sources.
CEO Bill Brennan emphasized this as a pivotal year for understanding and reducing their environmental footprint. The company's high-performance connectivity solutions are designed for low power consumption, improving data center energy efficiency. Credo plans to share additional details on sustainability initiatives in its upcoming Environmental Social Governance (ESG) report.
Credo Technology Group (Nasdaq: CRDO) announced it will host a conference call on Monday, December 2, 2024, at 2:00 p.m. Pacific Time to discuss its fiscal second quarter 2025 financial results for the period ended November 2, 2024. The earnings release will be issued after market close on December 2. Participants can register online to join the call, with registration recommended 10 minutes before start time. A live webcast and replay will be available on Credo's Investor Relations website.
Credo Technology Group (NASDAQ: CRDO) has partnered with Net One Systems to distribute its HiWire Active Electrical Cables (AECs) in the Japanese market for the first time. The collaboration aims to support Japan's growing generative AI infrastructure needs. HiWire AECs offer advantages over traditional Active Optical Cables, including lower power consumption and greater configuration flexibility. The partnership targets high-bandwidth and low-power communication networks essential for generative AI, hyperscale data centers, and telecommunications buildouts.
Credo Technology Group Holding (NASDAQ: CRDO) will showcase its latest connectivity solutions at the OCP Global Summit from October 15-17, 2024, in San Jose, CA. The company will demonstrate its newly introduced PCI Express 6.0 devices and CXL interconnect, including the Toucan PCIe 6.0 retimer and 1Tb OSFP-XD PCIe6 Active Electrical Cable.
In collaboration with partners like AMD, GIGABYTE, and XConn, Credo will present live demonstrations of PCIe and CXL interconnect technologies. These demos will showcase rack-scale shared H100 GPU systems, CXL2.0 shared memory systems, and the impact of liquid cooling on AI GPU racks. The event will highlight Credo's role in providing high-speed, energy-efficient connectivity solutions for data infrastructure, particularly in AI and high-performance computing applications.
Credo Technology Group Holding (NASDAQ: CRDO) has announced its first Toucan PCI Express (PCIe) 6, Compute Express Link (CXL) 3.x and Magpie PCIe 7, CXL 4.x retimers and OSFP-XD 16x64GT/s (1Tb) PCIe6/CXL HiWire AECs. These new products leverage Credo's SerDes expertise to deliver energy-efficient solutions for high-speed connectivity in data infrastructure.
The company will demonstrate the Toucan PCIe 6 retimers and HiWire AECs at the upcoming Open Compute Project (OCP) Summit from October 15-17. Credo's new PCIe 6 and PCIe 7 retimers offer industry-leading performance and power efficiency while being built on lower cost, more mature process nodes compared to competitors. The products also include enhanced diagnostic tools for rapid system bring-up and debugging.
Credo's Toucan PCIe6/CXL3.x retimer, based on the TSMC N7 process, will sample in Q4 2024, while the Magpie PCIe7/CXL4.x retimer, using TSMC N5 process, will begin sampling in H2 2025.
Credo Technology Group Holding (Nasdaq: CRDO) has introduced the new 800G ZeroFlap (ZF) family of HiWire Active Electrical Cables (AECs) for AI backend networks. These high-performance AECs can reach lengths of 7 m and are designed to deliver highly reliable interconnect for AI clusters.
Key features include:
- Zero soft link flaps to support lossless backend RDMA networks
- Improved reach and signal integrity
- Compatibility with liquid cooling advancements
- Power savings of up to 14W per link compared to legacy optics
- Cost savings of up to $1,000 per GPU
The HiWire ZF family includes four new product offerings: 800G OSFP to OSFP, OSFP to OSFP-RHS, OSFP to 2*OSFP-RHS, and OSFP to 2*Q112. Credo will demonstrate these new AECs at the upcoming Open Compute Project 2024 Summit in San Jose, USA from Oct 15 – 17, 2024.