Credo Technology Group (CRDO) Bank of America 2026 Global Technology Conference summary

Strategic vision and market outlook

• Expects a heterogeneous connectivity landscape, with both copper and optical solutions growing in tandem over the next five years.

• Revenue accelerated from under $200 million in fiscal 2024 to over $1.3 billion, with expectations for continued >80% growth.

• AEC business is projected to grow for at least five years, with no visible peak, driven by reliability and expanding market adoption.

• ZeroFlap Optics and AECs are seen as additive, both expected to drive significant growth.

• Full-spectrum connectivity strategy spans from die-to-die to facility-wide links, with reliability as a core focus.

Product innovation and technology

• ZeroFlap Optics designed to eliminate link instabilities, offering rich telemetry and rapid cluster deployment.

• OmniConnect initiative targets die-to-die innovation, addressing memory wall challenges and enabling composable GPU designs.

• SerDes technology is a foundational differentiator, enabling optimized, application-specific solutions across the portfolio.

• Silicon Photonics and DustPhotonics acquisition reduce component costs and improve system integration and reliability.

• Product roadmap leverages core SerDes across new markets, including Silicon Photonics and advanced optical modules.

Market size, growth, and competitive landscape

• AEC and ZeroFlap Optics markets are both multi-billion dollar opportunities, with optical components expected to exceed $600 million in revenue next year.

• Optical DSPs, SiPho PICs, and ZeroFlap Optics each forecasted to surpass $100 million and outpace overall company growth.

• Competitive advantage stems from full system ownership, deep customer engagement, and robust qualification processes.

• Market share is maintained by delivering, qualifying, and ramping products first, not by aiming for 100% share.

• End customers, especially hyperscalers and Neoclouds, increasingly drive connectivity decisions.