San Jose, Calif, September 10, 2024: Credo Technology Group Holding Ltd (“Credo”) (Nasdaq: CRDO), an innovator in providing secure and high-speed connectivity solutions is pleased to announce a new family of HiWire Active Electrical Cables (AECs) targeted specifically for the growing 400G Q112 network port market for China Hyperscale Data Centers, addressing the need for AI/ML backend network connections to Top of Rack (TOR) Switches.
The new HiWire Shift cables are based on Credo’s market leading 800G HiWire AECs. They offer outstanding energy efficiency, higher performance than previous solutions, and extreme reliability for up to 100M hours MTBF for critical AIML applications. Members of the new HiWire Shift AEC family are sampling now, with production scheduled for Q1/2025 and including the following:
“To meet the specific demands of hyperscalers in China that require the Q112 TOR interface, Credo is extending our 800G HiWire AEC family by introducing the new HiWire Shift family which includes three new Q112 products,” said Ameet Suri, Head of AEC Product and Business Development. "HiWire AECs continue to gain traction with Hyperscalers for NIC to TOR connectivity and we look forward to extending that reach even further in the China market with these new AEC offerings.”
“QSFP112 will be a critical node for AI/ML backend Networks in the China Hyperscale Market.” said Alan Weckel, Principal at 650 Research. “It makes sense that new customers in China would consider Credo’s AEC leadership position when looking for a trusted supplier offering low-power, high performance solutions.”
Credo will demonstrate these new HiWire Shift AECs at the upcoming China International Optoelectronic Expo (CIOE) 2024 Conference (CIOE) in Shenzhen, China Sept. 11 – 13, 2024. CIOE attendees are encouraged to visit Credo in booth #12C29 to learn more about these new HiWire devices
To learn more about the Credo products in this release go to the product pages linked here.
About Credo
Our mission is to deliver high-speed solutions to break bandwidth barriers on every wired connection in the data infrastructure market. Credo is an innovator in providing secure, high-speed connectivity solutions that deliver improved power efficiency as data rates and corresponding bandwidth requirements increase exponentially throughout the data infrastructure market. Our innovations ease system bandwidth bottlenecks while simultaneously improving on power, security, and reliability. Our connectivity solutions are optimized for optical and electrical Ethernet applications, including the emerging 100G (or Gigabits per second), 200G, 400G,800G and the emerging 1.6T (or Terabits per second) port markets. Credo products are based on our proprietary Serializer/Deserializer (SerDes) and Digital Signal Processor (DSP) technologies. Our product families include Integrated Circuits (ICs) for the optical and line card markets, Active Electrical Cables (AECs) and SerDes Chiplets. Our intellectual property (IP) solutions consist primarily of SerDes IP licensing.
For more information, please visit https://www.credosemi.com. Follow Credo on LinkedIn.
“This transition falls perfectly in line with Credo’s mission to deliver high-efficiency and low-power solutions,” says Joe Sheredy, Vice President of Systems Engineering and Site Operations. “While we help our customers address environmental sustainability through products, we must also do everything we can to support green energy initiatives in our everyday operations.”
By investing in TotalGreen, Credo also helps to contribute to investments that SJCE is taking to provide more sources of renewable energy to the area. Some examples include the Kerns Solar Plus Battery Project, which works to make the California renewable power grid more reliable, while having huge environmental benefits, equivalent to 670,000 cars off the street.
Renewable energy is the future for all industries, but especially in Silicon Valley. By switching to renewable energy, Credo is helping to avoid the emission of carbon dioxide into the atmosphere, which+ is linked to ozone layer depletion and the rise of global temperatures. global temperature rise Making the choice to switch to completely using renewable energy is also protecting the human right to a safe environment, along with being able to protect vulnerable populations, who are often disproportionately affected by the climate crisis.
Credo hopes to lead companies in the area to the future, by proving the feasibility and reliability of renewable power in running labs and other production functions. Further, Credo is doing its part in helping the city of San Jose hit its carbon neutrality goal by 2030, with transitioning to renewable energy one of the plans main strategies. By making this first step towards renewable and sustainable energy sources, Credo looks to minimize our individual employee footprint while setting a precedent for Credo’s other offices around the world. Along with other steps we've taken in the past year, like working with suppliers to ensure carbon offset strategies as well as calculating our greenhouse gas emissions with the Minimum Corporation, all these steps work towards a better and greener future for all humanity.
San Jose, California, August 26, 2024 - Credo Semiconductor Inc. (Credo) has been awarded a Top Workplaces 2024 honor by San Francisco Bay Area Top Workplaces. This list is based solely on employee feedback gathered through a third-party survey administered by employee engagement technology partner Energage LLC. The confidential survey uniquely measures the employee experience and its component themes, including employees feeling “Respected & Supported,” “Enabled to Grow,” and “Empowered to Execute,” to name a few.
Bill Brennan, Credo President and CEO said: “Team Credo has always exemplified the spirit of the meaning of Credo, which is ‘Believe’. Our high-bandwidth connectivity solutions are a critical enabler for generative AI platforms, driving innovation and excellence in the industry. It’s an honor to receive the Top Workplace designation and it is a testament to our team's passion, persistence, and creativity, which are the true catalysts of our success.”
“Earning a Top Workplaces award is a badge of honor for companies, especially because it comes authentically from their employees,” said Eric Rubino, Energage CEO. “That's something to be proud of. In today's market, leaders must ensure they’re allowing employees to have a voice and be heard. That's paramount. Top Workplaces do this, and it pays dividends.”
About Credo
Our mission is to deliver high-speed solutions to break bandwidth barriers on every wired connection in the data infrastructure market. Credo is an innovator in providing secure, high-speed connectivity solutions that deliver improved power efficiency as data rates and corresponding bandwidth requirements increase exponentially throughout the data infrastructure market. Our innovations ease system bandwidth bottlenecks while simultaneously improving on power, security, and reliability. Our connectivity solutions are optimized for optical and electrical Ethernet applications, including the emerging 100G (or Gigabits per second), 200G, 400G,800G and the emerging 1.6T (or Terabits per second) port markets. Credo products are based on our proprietary Serializer/Deserializer (SerDes) and Digital Signal Processor (DSP) technologies. Our product families include Integrated Circuits (ICs) for the optical and line card markets, Active Electrical Cables (AECs) and SerDes Chiplets. Our intellectual property (IP) solutions consist primarily of SerDes IP licensing.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws. All statements other than statements of historical fact could be deemed forward-looking statements, including, but not limited to, any statements regarding: launches of new or expansion of existing products or services; technology developments and innovation; our plans, strategies or objectives with respect to future operations; future financial results; expectations regarding the markets and industries in which Credo conducts business; and assumptions underlying any of the foregoing. Words such as “anticipates,” “expects,” “intends,” “plans,” “projects,” “believes,” “seeks,” “estimates,” “can,” “may,” “will,” “would,” “outlook,” “forecast,” “targets” and similar expressions, or their negatives, may identify such forward-looking statements. These statements are not guarantees of results and should not be considered as an indication of future activity or future performance. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties that may cause actual events or results to differ materially from those described in this press release. Readers are encouraged to review risk factors and all other disclosures appearing in Credo’s Annual Report on Form 10-K as filed with the Securities and Exchange Commission (SEC) on June 24, 2024, as well as Credo’s other filings with the SEC, for further information on risks and uncertainties that could affect Credo’s business, financial condition and results of operation. Copies of these filings are available from the SEC, Credo’s website or Credo’s investor relations department. Forward-looking statements speak only as of the date they are made. Credo assumes no obligation to update or revise any forward-looking statements as a result of new information, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date herein.
Awards
About Energage
Making the world a better place to work together.TM
Energage is a purpose-driven company that helps organizations turn employee feedback into useful business intelligence and credible employer recognition through Top Workplaces. Built on 18 years of culture research and the results from 27 million employees surveyed across more than 70,000 organizations, Energage delivers the most accurate competitive benchmark available. With access to a unique combination of patented analytic tools and expert guidance, Energage customers lead the competition with an engaged workforce and an opportunity to gain recognition for their people-first approach to culture. For more information or to nominate your organization, visit energage.com or topworkplaces.com.
One main area of work is their STEAM/STEAM kits, which are made from recycled materials donated by local companies. “Each year, we divert about 300 tons of materials from ending up in landfills,” says Kate Ball, Director of Development at RAFT. “When we have those materials, we take a look at them and see their different respective attributes.” Kits are then conceptualized with the help of educators, who work to keep them in line with Next Generation Science Standards and Common Core Standards in alignment California state requirements.
“Science instructional minutes has been a huge challenge over the last few years,” says Ball. “A lot of times too, teachers don't feel like they have access or understanding of, say, the tech industry. What we do is try to make those subjects accessible for the teachers as well, so they feel confident leading their students through these lessons.”
RAFT also contributes to equitable education in other ways, including their Maker Mobiles, which are two vans equipped with technology and materials to be able to bring hands-on activities typically found only in a makerspace. “We make it more accessible for more schools by having a van come out and bring those activities out there,” says Ball. “We’re also very focused on expanding what we call our STEAM Dream program. This year, we're hosting over 1000 students at different campsites using all the RAFT kits. Credo actually helped pack the kits for our STEAM Dream Camp,” she laughs.
Companies like Credo in Silicon Valley also donate equipment and other classroom essentials that are then sold at discounted prices to teachers. “The other side of it is just affordability. Teachers are often expected to pay out of pocket to supply their classrooms, and so that can be a burden.”
In line with Goal 4 of the United Nation’s Sustainable Development Goals (SDGs), Credo aims to support and ensure inclusive, equitable, and affordable education opportunities for all. Continuing our work with Year Up, a tuition-free job training program also in the Bay Area, by volunteering with RAFT and helping to provide resources, Credo aims to be a good neighbor to the surrounding community and establish working relationships with various community organizations.
“We started at the same time that a lot of companies started up in the Silicon Valley area,” says Ball. “So, we're very proud of the partnerships that we have with companies like Credo that not only offer their recycled materials, but also offer the time of their employees to volunteer to help pack our kits and create those supplies for teachers in the classroom.”
When asked about what the biggest thing an individual could do to support RAFT, Ball stresses the importance of having volunteers come in and help. “I think it really helps people understand what the education community is like in the Bay Area especially.”
“RAFT is really trying to be that resource through our donating materials and through our kits and through our programs that we're able to bring those things at a very low cost to our teachers,” says Ball.” Through the generosity of organizations like Credo, we're able to bring those things through a grant or a gift to a specific school or to a district for free or at a very low cost so that they can have access to those things.”
We look forward to seeing RAFT again at their 30th anniversary ball in September!
In response to employee request and our continued efforts to improve the health and wellbeing of our staff, Credo’s San Jose office is pleased to announce its new gym, available for all employees to use.
Exercise has been proven to have both mental and physical benefits. Studies conducted by the National Institute of Health have found that exercise can reduce anxiety, depression, negative mood, as well as improving self-esteem and cognitive function. Consistent exercise can also be an important factor in injury prevention, allowing employees to futureproof their health. With the high demands of Silicon Valley, exercise is also a great way to improve mood and provide stress relief through the increased production of endorphins.
The newly opened gym contains machines acquired from French Fitness, a California-based business which refurbishes old gym equipment to give them a new life. A combined effort between Facilities Technician Paul Magill and Senior Program Manager Brian Sheredy, Magill says of the choice to use French Fitness was “part of our plan, to make sure we had as little of an environmental impact as possible.”
As a part of Credo’s commitment to upholding Sustainable Development Goals (SDGs) established by the United Nations, the choice to use French Fitness aligns with our goal to be a responsible consumer in both our office spaces and production lines. “The equipment is all broken down nut by nut, bolt by bolt, and refurbished. They’re as good as, or if not better, than new,” Magill says.
“I think the gym is a great addition for all of us at the company,” says Haoli Qian, Vice President of Engineering. “I know I use it very often, especially because it’s so convenient, and exercise is a great way to stay healthy both mentally and physically. The gym has also become a place for engineers to connect more, and some good ideas have come out of brainstorming sessions in the gym.”
The Credo Cares program, which aims to make a positive impact on the environment around us, also covers employee well-being. The gym is just the latest addition to the slew of other projects that Credo has been implementing over the years, including the basketball hoop in the parking lot that was put in around the same time the gym opened. “There were a few people who really wanted it,” Magill laughs.
Ultimately, the gym helps to improve morale among employees. “The gym gives people options about what they want to do on their break and places to socialize – like shoot some hoops, get on a treadmill, or whatever,” says Magill.
An intersection between Credo’s long-term goals to uphold ESG policies and the Credo Cares program, the gym hopes to support our employees in both mind and body, as well as fostering employee health and in turn, productivity. We welcome all employees to use the gym any time, which remains open until 9PM every day. “We both worked on it pretty hard on it,” laughs Magill.
As a part of our dedication to opening doors into the technology and semiconductor industry, this year’s program has become more formalized, with more support programs and opportunities offered to interns. Wing Cheung, director of human resources, explains his motivation behind the changes. “We want to make sure they’re successful – so that when they come on board, they’re not just working on one team. We want them to socially adapt to the organization, our culture, and what we’re doing.”
“It’s always great to see interns go through the program,” says Alex Nazari, Vice President of Engineering, System Applications. “They bring in so many new experiences and everything they’re learning at school enables them to be creative and come up with innovative ideas and solutions. It’s a collective breath of fresh air.”
Jayden Patel, a mechanical engineering intern from the University of Texas at Austin, has been working on redesigning module shells for Credo’s components and chips, hopefully eliminating the need to buy shells from third-party suppliers. “This is my first internship experience and the culture and communication at Credo has set my expectations for the future very high,” he says. “It’s been amazing seeing how different groups within Credo work together to execute success.”
While most interns come from engineering backgrounds, this year’s intern class also features more interns in what Cheung calls the “administrative”, or G&A side of the industry – specifically departments like marketing, human resources, finance, and IT. Just as much as the Credo’s success rests on the success of its products, G&A teams keep the company running smoothly. “A lot of the time the administrative teams are the forgotten teams...we’re just kind of working in the shadows. By putting more resources and getting more interns into that area ensures the company will succeed across the board.”
“I’ve been able to learn a lot about the company and its competitor and gain valuable insight into how Credo operates behind the scenes.” says Andrew Carrasquillo, a tax, financial planning & analysis intern from Claremont Mckenna College. “It’s been cool getting to see what the day-to-day is like in this industry and I’m learning more about how that fits into my own future.”
Interns will have also opportunities to work on short- and long-term projects, be mentored by industry experts, and connect with their peers working in other departments at Credo. Intern ambassadors, or employees who were previously interns themselves or are role models in the company, will also be paired up with groups of interns to provide all the support they need. “I call them champions -- intern champions,” explains Cheung. “They will be advocates if there are any questions or concerns, or work with departments to leverage resources to support the interns as well.”
Since the beginning of its internship program, 15 employees have remained on as employees in various capacities, allowing Credo to build a tight-knit community with dedicated and experienced employees. “We just had two more interns join us in July as full-time employees,” says Nazari. “This really reflects the program’s ability to make life-long positive impressions on our interns.”
Ultimately, Cheung describes the program as a two-way street – ensuring future success by investing in the minds of tomorrow. “The company has to give,” he says. “We’re educating, we’re mentoring, we’re teaching, but also, we want the interns to bring what they’ve got. Show us what you have.”
Thank you to all our current interns and stay tuned for updates on YearUp!
Since its invention during WWII by Dr. Charles Drew, blood-collecting vehicles have been paramount to increasing the supply of blood available to medical facilities. Phillip Martin, an account manager for Stanford Blood Center who works primarily to organize drives with organizations and companies in the Bay Area, explained how bloodmobiles increase donor numbers and willingness to donate. “People will tell you the convenience of the blood drive is big determination if they give or not,” he says. “A blood center can be around the corner of your house, but you just drive right past it. If it’s at work, and you’re being encouraged to do it, people are more likely to take an hour of their day to come give some blood.”
Created within the Stanford School of Medicine, the Blood Center was most specifically created to meet transfusion needs within the Health Care Center and the Children’s Hospital. Now, bloodmobiles can supply blood nationwide, helping backfill other hospitals that may be struggling. “When there’s a need, the call goes out. Whoever has the supply and the blood type available fulfills that need,” says Martin.
“Every 2 seconds someone in the US needs blood,” says Michael Bustamante, Senior Manager - CQE. “Especially with me being O positive, I know my blood can go towards helping a lot of people. It’s great how Credo makes it so easy for it to happen.”
The three bloodmobiles of the Blood Center service a two-hour radius around Palo Alto and can be set up almost anywhere. “The bloodmobile only needs a flat surface and a bathroom,” Martin laughs. “During the pandemic, I worked with a lot of hotels, and they’d just let us park the bus in the parking lot.”
However, with companies opening back up and a lot of work returning to in-person, Martin describes his experience working with companies in the area. “Many companies are opening up their doors and their parking lots – they're allowing us access to their employees and trusting us with them,” he says. “Without them opening up, our mission becomes almost impossible.”
The Blood Center aligns with Credo’s commitment to supporting the communities around us and being a global citizen. As part of our Credo Cares initiative, this blood drive and all upcoming events will support local organizations and causes offering our employees direct opportunities to give back to the community. Thank you to all our donors and the Stanford Blood Center for giving us this opportunity to make an impact!