Barclays says Credo relationship with Oracle means ‘closer connection’ to OpenAI

Barclays analyst Tom O’Malley notes an announcement on the Open Compute Project website showing Credo Technology (CRDO) and Oracle (ORCL) onstage. The firm, which believes that Oracle is the fifth large Credo customer, thinks that this relationship “ultimately means a closer connection” to some of the recent OpenAI announcements. The firm keeps an Overweight rating and $165 price target on Credo shares.