Credo Technology, Reaching a New Peak Punishes Investors.

Credo Technology Group Holding Ltd (NASDAQ:CRDO) stood out as one of the best-performing stocks on Friday. The company announced the addition of a former Nvidia Corp. executive to its board, believing this is critical to supporting the company’s aggressive expansion in the chip and artificial intelligence systems space.

During intraday trading, the stock rose to $193.5, setting a new all-time high; however, it limited its gains by the end of the day, closing at $187.6, up 12.6%.

Credo Technology Group Holding Ltd announced on October 27 that it has appointed Brian Kelleher as an independent director. Kelleher replaced Lip-bu Tan, who resigned on October 23, and is currently serving as the Executive Director of Intel Corp.

Bill Brennan, President and CEO of Credo Technology, said, “Brian brings deep expertise in the design and development of high-complexity semiconductors and artificial intelligence systems. His significant contributions to shaping the rise of general-purpose GPU computing continue to have a profound impact on the data infrastructure for AI-focused networks.”

Brennan also added, “His extensive experience in accelerated computing applications and artificial intelligence will be invaluable as we continue our mission to develop the next generation of high-speed connectivity solutions.”

Before joining Credo Technology Group Holding Ltd, Brennan served as Senior Vice President responsible for GPU Engineering at Nvidia Corp., where he led the GPU product development organization.

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