Hidden Powerhouse in AI Data Centers Loses 4 Trillion Won in a Day

Shares of Credo Technology Group Holding Ltd. (NASDAQ: CRDO) closed at $210, down 7.64%—approximately ₩315,000—on the Nasdaq. The company’s market capitalization shrank to about $38.7 billion (roughly ₩59 trillion), erasing around $2.7 billion (about ₩4 trillion) in a single trading day. Trading volume reached approximately 6.93 million shares, signaling short-term profit-taking and heightened volatility.

Two days ago, Credo reported its fourth-quarter fiscal 2026 results, posting revenue of $437 million—a 157% year-over-year increase—and non-GAAP diluted EPS of $1.16. Alongside these strong results, the company guided first-quarter fiscal 2027 revenue to a range of $465 million to $475 million. (Source: businesswire.com)

Yesterday, Sweden’s sovereign wealth fund Första AP-fonden acquired a new stake valued at about $7.03 million during the quarter, and Wall Street firms—including Mizuho—raised price targets to as high as $260, reflecting continued positive sentiment among institutional investors and analysts. (Source: marketbeat.com)

Credo Technology Group Holding, headquartered in Silicon Valley, is a fabless semiconductor company providing ultra-high-speed, low-power connectivity solutions for AI data centers and cloud infrastructure. (Source: businesswire.com) Its principal products include active electrical cables, optical digital signal processing chips, and high-speed SerDes IP, which serve as essential components in AI infrastructure by enabling large-volume data transfer between GPUs and switches/servers with minimal power consumption. (Source: credotechnology2024ir.q4web.com)