Credo Technology stock surged 245% in 2024 due to strong demand for AI-enabled products.

From Nasdaq: 2025-01-15 07:38:28

In 2024, Credo Technology (NASDAQ: CRDO) saw shares surge 245%, outperforming the S&P 500 and Nasdaq Composite indices as well as Nvidia. The catalyst was strong demand for its products in AI-enabled data centers. The company reported impressive results for its second fiscal quarter in 2025, with revenue surging 64% year over year to $72 million. Credo’s fiscal third-quarter revenue guidance of $115 million to $125 million suggests continued robust growth. Investors should keep an eye on Credo as it continues to ride the wave of AI-driven expansion.

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