Credo rebounds after plans to develop custom silicon for AI data centers

[Shot of Data Center With Multiple Rows of Fully Operational Server Racks. Modern Telecommunications, Artificial Intelligence,server room,3d rendering]
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Credo (NASDAQ:CRDO [https://seekingalpha.com/symbol/CRDO]) stock price rebounded 6% on Wednesday during pre-market hours of trading after it dropped 13% the previous day.

The company recently announced that [https://seekingalpha.com/pr/20265517-credo-joins-arm-total-design-to-accelerate-the-development-of-custom-silicon-for-ai-data] it joined the Arm Total Design ecosystem to accelerate the development of custom silicon specifically for AI data centers.

By integrating into this ecosystem, Credo (NASDAQ:CRDO [https://seekingalpha.com/symbol/CRDO]) contributes its advanced high-speed connectivity IP portfolio, including SerDes chiplets, which combine with Arm's Neoverse Compute Subsystems processor architecture.

"The combination of Credo IP and chiplets with Arm’s processor architecture allows customers to rapidly design innovative silicon solutions for next-generation AI, cloud computing and hyperscale data center applications," the company said in a statement.

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