Sebastian Nagy

Sebastian Nagy asked about the proportion of Credo's business tied to ASIC versus merchant silicon deployments today and its potential trajectory. He also inquired about the timing of customer purchases, specifically how AEC orders align with GPU or ASIC purchases, and any risk of inventory build if customers are purchasing ahead of GPU orders.

Answer

President and CEO Bill Brennan stated that Credo does not track the percentage of business tied to internally developed versus commercially available GPUs, emphasizing that Credo is agnostic to the type of GPU deployed. Regarding purchase timing, Bill Brennan believes all necessary components, including connectivity solutions, are ordered for simultaneous delivery due to the complex supply chains of customers. He also indicated good visibility within the supply chain, suggesting there is no significant bubble of product sitting in inventory.