Credo Technology (CRDO) Surges 20.6% as Ex-Nvidia Exec Joins Board

We recently published 10 Stocks With Easy 20-40% Gains. Credo Technology Group Holding Ltd (NASDAQ:CRDO) is one of the last week’s best-performing stocks.

Credo Technology soared by 20.6 percent week-on-week to touch a new all-time high, as investors cheered the addition of a former Nvidia Corp. executive to its board of directors.

Late last week, Credo Technology Group Holding Ltd (NASDAQ:CRDO) announced the addition of Brian Kelleher as an independent director effective October 27. He replaced Lip-bu Tan, who resigned from his post on October 23 and now serves as chief executive officer of Intel Corp.

Credo Technology(CRDO) Surges 20.6% as Ex-Nvidia Exec Joins Board

ronstik/Shutterstock.com

“Brian brings deep expertise in designing and developing highly complex semiconductors and AI systems. His distinguished contributions to the field have helped shape the rise of general-purpose GPU computing, which continues to have a profound impact on data infrastructure for AI-driven networks,” Credo Technology Group Holding Ltd (NASDAQ:CRDO) President and CEO Bill Brennan said.

“His vast experience in engineering for accelerated computing applications and AI will prove invaluable as we continue our mission to advance the next generation of high-speed connectivity solutions,” he added.

Prior to joining Credo Technology Group Holding Ltd (NASDAQ:CRDO), Kelleher served as senior vice president of GPU Engineering at Nvidia Corp., during which he led the GPU product development organization and helped usher in the era of general-purpose GPU computing.

While we acknowledge the risk and potential of CRDO as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than CRDO and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.