customerScore 55/100Add to thesis
Credo revenue up 114.7% YoY to $479M; guides $525-535M next quarter on AI connectivity demand
“During the first quarter of fiscal 2027, Credo delivered revenue of $479.0 million and non-GAAP net income of $236.3 million, representing 115% and 140% year-over-year growth respectively... Revenue is expected to be between $525 million and $535 million.”
Why it matters
Credo's AEC and optical interconnect business continues hypergrowth driven by AI cluster scale-up, with gross margins holding at ~68% non-GAAP despite rapid scale.
Investment implication
Reinforces bullish thesis on CRDO as a picks-and-shovels AI connectivity play; also supports the broader AEC/interconnect supply chain (copper cabling, DSPs) benefiting from hyperscaler back-end network buildouts.