We recently published Ten companies that dominate the market; 5 at all-time highs. Credo Technology Group Holding Ltd (NASDAQ:CRDO) is one of the best performing stocks on Friday.
Credo Technology hit a new all-time high on Friday as investors applauded the addition of a former Nvidia Corp. executive to its board of directors, calling him vital to supporting the company’s aggressive expansion into chip systems and artificial intelligence (AI).
In intraday trading, shares soared to their highest price of $193.5 before paring gains to end the day up 12.6 percent at $187.6 each.
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 position on October 23 and now serves as CEO of Intel Corp.
“Brian brings deep experience in the design and development of highly complex semiconductors and AI systems. His distinguished contributions to this field have helped shape the rise of general-purpose GPU computing, which continues to have a profound impact on data infrastructure for AI-powered networks,” said Credo Technology Group Holding Ltd (NASDAQ:CRDO) Chairman and CEO Bill Brennan.
“His extensive engineering experience for accelerated computing applications and artificial intelligence 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.
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Disclosure: None. This article was originally published in Internal jumpsuit.