On September 25, Credo Technology Group Holding Ltd rose 5.47% in regular trading, trading at $206.79/share, with turnover of $248 million. The rally was driven by news that Akamai and AI giant Anthropic signed a $11.6 billion cloud computing agreement, a deal widely interpreted as a strong signal that AI compute demand continues to expand aggressively.

The landmark order triggered a broad rally across the semiconductor and optical communications sectors. ARM rose over 3%, while AMD, Marvell Technology, Intel, and Broadcom gained over 2%. Among optical connectivity names, Coherent climbed over 2%, with Corning and Astera Labs also advancing. As a core supplier of high-speed copper cable and optical interconnect products, Credo Technology Group Holding Ltd stands as a direct beneficiary of structural growth in AI data center interconnect demand.

Credo Technology Group Holding Ltd reported fiscal Q1 revenue of $479 million earlier this month, more than doubling year-over-year, with non-GAAP EPS of $1.20 beating the $1.17 consensus estimate. The company guided Q2 revenue to $525–$535 million, above analyst expectations of $519.8 million.

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