Credo Semiconductor designs high-speed connectivity chips and active electrical cables (AECs) for data center networking, focused on the short-reach, high-bandwidth connections within and between server racks in AI GPU clusters. Its HiWire AEC products—cables with embedded Credo chips at each end—provide 112G and 224G connectivity between servers over copper, at lower power and lower cost than optical transceivers used for longer distances.

AI GPU clusters have created a large and fast-growing market for Credo's products. A cluster of thousands of GPUs requires tens of thousands of individual high-speed links connecting each GPU to the switching fabric. The cost, power, and cable management requirements of those connections at scale are significant, and Credo's AEC approach—compact, power-efficient, and manageable without the complexity of optical fiber at short range—has been adopted by hyperscalers building large AI clusters.

Credo has continued to massively outperform expectations through FY2026. TTM revenue through January 31, 2026 reached $1.07 billion, up 226% year-over-year. Beyond its core AEC business, Credo has been expanding its product portfolio: the company debuted ZeroFlap optical transceivers, 800G and 1.6T optical DSPs, and its Robin DSP family at the 2026 Optical Fiber Communication Conference, signaling a broadening from copper-based AEC into optical connectivity as AI networking architectures continue scaling to higher per-link bandwidths.