BlackRock’s 30 Most Important AI Stocks Right Now

21. Credo Technology Group Holding Ltd. (NASDAQ:CRDO)

Weight in ARTY ETF: 1.21%

Number of Hedge Fund Holders: 59

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) is one of BlackRock’s 30 most important AI stocks right now. BlackRock is the largest institutional investor, holding a 10.63% stake in the company, with 19.82 million shares as of March 31, 2026.

On June 23, Bank of America Securities increased the target price on Credo Technology Group Holding Ltd. (NASDAQ:CRDO) from $252 to $340. In the process, the firm also maintained its Buy rating on the stock. The target price adjustment was based on revisions to the firm’s models for the semiconductor industry.

Bank of America Securities increased its overall projections for the semiconductor industry’s total addressable market from $2.3 trillion to $2.7 trillion by 2030. It attributed this primarily to an anticipated growth across data centers and memory segments. It believes that recovery within the industrial and auto spaces would also offer support to such optimistic estimates.

Earlier on June 2, Sean O’Loughlin from TD Cowen increased the target price on Credo Technology Group Holding Ltd. (NASDAQ:CRDO)  from $240 to $260, while maintaining a Buy rating on the stock.

O’Loughlin highlighted the company’s impressive results, along with the management’s guidance that came in above consensus estimates. Moreover, the expectation of reacceleration during the latter half of the year has fueled further optimism around the full-year estimates.

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) is an established supplier of high-speed linking solutions that include both optical and electrical Ethernet connections throughout several international locations. The company’s product range consists of a variety of products such as active copper cables, optical transceivers, memory devices, and retimers.