Credo Technology shares surge 14.83% after-hours on Q2 earnings beat and AI-driven demand, with revenue tripling and raised guidance.

Credo Technology surged 14.83% in after-hours trading, driven by a combination of strong Q2 earnings, robust revenue growth, and analyst upgrades. The company reported a 272% year-over-year revenue increase to $268 million, fueled by heightened demand for AI infrastructure and its active electrical cables. Earnings beat estimates, with adjusted EPS of $0.67, and guidance for Q3 revenue of $335–$345 million exceeded expectations. Analysts upgraded price targets and maintained "buy" ratings, citing Credo’s leadership in AI-driven data center solutions and expansion into high-growth segments like ZeroFlap Optics. The stock’s rally aligns with broader investor enthusiasm.