Credo Technology swung to a second-quarter profit as revenue more than tripled, boosted by the continued build out of artificial intelligence training and inference systems.

Credo shares soared 17% in after hours trading.

The company, which provides high-speed connectivity solutions for data centers, on Monday posted a profit of $82.6 million, or 44 cents a share, compared with a loss of $4.2 million, or 3 cents a share, a year earlier.

Adjusted earnings per share were 67 cents, topping estimates of 49 cents a share according to analysts polled by FactSet.

Revenue more than tripled to $268 million compared with $72 million a year ago. Analysts expected $235 million.

Chief Executive Bill Brennan said the results reflect the continued build out of the world's largest AI training and inference clusters.

Going forward, the company expects continued growth in its core active electrical cables and integrated circuits franchises, he said.

For the fiscal third quarter, Credo expects revenue of $335 million to $345 million, above analyst expectations of $247.6 million.