13 AI News and Ratings on Wall Street’s Radar

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9. Credo Technology Group Holding Ltd (NASDAQ:CRDO)

Number of Hedge Fund Holders: 30

Credo Technology Group Holding Ltd (NASDAQ:CRDO) offers advanced connectivity solutions for optical and electrical Ethernet applications, crucial for AI-powered data processing in hyperscale and high-performance computing markets.

Stifel’s Tore Svanberg raised Credo Technology’s (NASDAQ:CRDO) price target to $85 from $80 while maintaining a Buy rating, as per The Fly. After meeting with Credo’s management at CES, the firm highlighted the growing significance of active copper technology over optical and passive cable solutions. The company’s early adoption of linear receive optics and flexible approach to optical DSPs was also noted. Stifel sees a strong growth opportunity in AI-driven data center spending, which positions Credo as a significant beneficiary despite potential market normalization in the long term.

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