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Credo’s $CRDO Rally May Not Be Finished Yet
Optical expansion and AI demand are reshaping the investment case
George Babis
April 29, 2026
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Sometimes the market punishes a stock for a real business problem. Other times it punishes a stock for a narrative that turns out to be incomplete. Credo $CRDO ( ▲ 1.59% ) appears to have gone through the second scenario.
Just a few months ago, shares had fallen roughly 50% from prior highs after a huge run-up, as investors embraced the idea that copper-based connectivity would be left behind in the next phase of AI infrastructure. That thesis looked clean on paper. The problem is that reality was more nuanced.
Copper remains highly relevant in modern AI clusters, particularly for short-range, power-efficient, high-speed connections inside racks. And now, following the acquisition of DustPhotonics, Credo is no longer just a copper story anyway. The company has repositioned itself as a broader connectivity platform with exposure to both electrical and optical architectures. The stock has already staged a sharp comeback.
$CRDO has soared over the past month
And the story may still have more room to run. Here’s why.
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