AI datacenter interconnect (AEC, PAM4)
Credo Technology
Supplies high-speed interconnect (active electrical cables, PAM4 DSP) for AI datacenters. FY2024 revenue $193M; the top two hyperscalers were 54% of revenue. Customers include Microsoft and Amazon.
CRDO Updated Jun 21, 2026
Annual return · 2026-06-18'23+46.3%'24+245.2%'25+114.1%YTD+88.9%
Credo TechnologyAI datacenter interconnect
Financials & Segments
- Total revenue · AI datacenter interconnect (AEC, PAM4)
- Segments · AI datacenter interconnect (AEC, PAM4)
Revenue from
- Microsoft High confidence· Revenue ~$193M · FY2024 · annual revenue
Supplies AI interconnect (AEC, PAM4) to 마이크로소프트.Confirms KO Newspim Published Apr 17, 2026: "Credo holds 73-75% of the AEC market, surging on AI datacenter connectivity demand." - Amazon Medium confidence
Supplies AI interconnect (AEC, PAM4) to 아마존.
Pays to
- TSMC Medium confidence
Buys DSP foundry from TSMC. - Synopsys Medium confidence
Pays for synopsys EDA tools and IP licenses. - Cadence Design Systems Medium confidence
Pays for cadence EDA tools and IP licenses. - 부품·소재 (비공개) Low confidence
Parts, materials and R&D (undisclosed). - 설비·인프라 (비공개) Low confidence
Equipment and infrastructure (undisclosed).
Value-chain ripple (tiers 2–3)
Following node-to-node links up to 3 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| Amazon | lead1 | +2.4 | -49.6 | +80.9 | +44.4 | +5.2 | +5.9 |
| Microsoft | lead1 | +52.5 | -28 | +58.2 | +12.9 | +15.6 | -21.2 |
| Credo Technology | node | · | · | +46.3 | +245.2 | +114.1 | +88.9 |
| TSMC | benef1 | +12.1 | -36.8 | +42.5 | +92.9 | +56 | +53.3 |
| SUMCO Corporation | benef2 | -4.3 | -3.9 | +21.3 | -48.1 | +41.7 | +163.6 |
| Applied Materials | benef2 | +83.6 | -37.5 | +68 | +1.1 | +59.6 | +140.7 |
| Lam Research | benef2 | +53.7 | -40.8 | +88.8 | -6.9 | +139.5 | +128.1 |
| Teradyne | benef2 | +36.8 | -46.3 | +24.8 | +16.5 | +54.4 | +126.4 |
| GlobalWafers | benef2 | +27.3 | -30.3 | +14.4 | -38.9 | +51 | +123.3 |
| KLA | benef2 | +68 | -11.2 | +56 | +9.4 | +94.5 | +114.2 |
| Entegris | benef2 | +44.6 | -52.5 | +83.5 | -17.1 | -14.6 | +112.5 |
| Onto Innovation | benef2 | +112.9 | -32.7 | +124.6 | +9 | -5.3 | +111.4 |
| Resonac | benef2 | -2.6 | -4 | +37.5 | +30.3 | +137.9 | +105.5 |
| BESI | benef2 | +33.7 | -6.1 | +121.8 | -9.3 | +35 | +89.5 |
| Tokyo Electron (TEL) | benef2 | +40.4 | -14.5 | +89.8 | -4.4 | +61.6 | +84.1 |
| ASML | benef2 | +64.1 | -30.5 | +39.9 | -7.7 | +55.8 | +81 |
| SCREEN Holdings | benef2 | +40.7 | -13.2 | +220.1 | -24.1 | +84.9 | +71.9 |
| Tokyo Ohka Kogyo (TOK) | benef2 | -2.7 | -3 | +63.8 | +4.3 | +111.5 | +52.9 |
| Lasertec | benef2 | +78.9 | +2.4 | +57 | -60.6 | +138.9 | +51.4 |
| ASM International | benef2 | +44.2 | +2.9 | +68.7 | +10.3 | +25.9 | +50.8 |
| Shin-Etsu Chemical | benef2 | +6.3 | +3.1 | +57.8 | -15.6 | +7.6 | +43.8 |
| Disco Corporation | benef2 | -6.6 | +27.7 | +218.5 | +11.6 | +49.6 | +29 |
| Advantest | benef2 | +17 | -2.3 | +155.7 | +49.5 | +196 | +24.6 |
| Cadence Design Systems | benef2 | +36.6 | -13.8 | +69.6 | +10.3 | +4 | +23.9 |
| HPSP | benef2 | · | · | +216.5 | -30.4 | +54.7 | +21.7 |
| Synopsys | benef2 | +42.1 | -13.4 | +61.3 | -5.7 | -3.2 | -3 |
| Leeno Industrial | benef2 | +21 | -5.3 | +18.3 | +9.5 | +150.1 | -12.6 |
| MKS Instruments | benef3 | +16.4 | -51 | +22.6 | +2.2 | +54.4 | +154.7 |
| Wonik QnC | benef3 | +26.2 | +2 | +11.9 | -33.7 | +53.4 | +25.1 |
| TCK (Tokai Carbon Korea) | benef3 | -10.1 | -16.9 | +2.8 | -28.7 | +225.7 | +8.6 |
| Hana Materials | benef3 | +106 | -30.5 | +26.1 | -47.4 | +173.9 | -3.6 |
YTD as of 2026-06-18 · source: Yahoo Finance