U.S. AI Data Center Beneficiaries' Executives Sell Off Shares Worth Billions

On March 11 and 24, Credo Technology Group Holding Ltd (Nasdaq: CRDO)’s Chief Technology Officer Cheng Chi Fung and President & CEO William Joseph Brennan sold portions of their holdings on the open market under pre-established Rule 10b5-1 trading plans.

The Cheng Huang Family Trust, associated with the CTO, disposed of a total of 55,000 shares in two transactions, generating roughly $6 million (around KRW 7 billion) in proceeds. It continues to hold approximately 6.21 million shares indirectly, representing an equity value in the hundreds of millions of dollars (roughly KRW 900 billion to 1 trillion).

On the same dates, Brennan sold about 70,000 shares combining his personal stake with shares held by the Brennan Family Trust, raising between $8.2 million and $8.5 million (around KRW 100 billion). In their Form 4 filings, both executives disclosed that they do not claim any ownership in the family trust shares beyond the economic benefits to themselves and their spouses.

In its third quarter of fiscal 2026, ended January 31, Credo reported revenues of $407 million—more than 200% year-over-year growth—and guided fourth-quarter revenues of $425–435 million, citing robust demand for its AI and cloud connectivity solutions.

Recently, Credo resolved AEC-related patent disputes with TE Connectivity, Molex and 3M through cross-licensing and settlement agreements. Major brokerages continue to rate the stock a “buy,” with target prices of $200–220, and insider activity persists, including the Cheng Huang Family Trust’s additional 27,500-share sale disclosed on March 31.

Headquartered in San Jose, California, Credo is a fabless semiconductor company supplying low-power, high-speed connectivity solutions—such as integrated circuits for high-speed Ethernet and PCIe, active electrical cables and optical transceivers—to AI, cloud and hyperscale network applications.

Under Brennan’s leadership, Credo has delivered triple-digit revenue growth for several consecutive quarters, leveraging connectivity technologies that support data rates from 100 Gbps to 1.6 Tbps and its new “ZeroFlap” product line, and has emerged as a key AI data-center infrastructure play on the Nasdaq.