Credo Stock Jumps 10% on AI Connectivity Boom

Credo Technology shares surged over 10% to $119.23 Friday, driven by explosive demand for its high-speed connectivity solutions powering AI data centers. The San Jose company reported fiscal Q3 2026 revenue of $407 million, a 201.5% year-over-year increase, with record non-GAAP net income of $208.8 million. Credo specializes in Active Electrical Cables and optical solutions critical for linking GPU clusters in AI infrastructure. Management guided full fiscal 2026 revenue around $1.33 billion, representing over 200% annual growth. Analyst consensus price targets reach $200, with some forecasts hitting $260.