RE: Credo public offering12 Dec 2023 06:29
As far as I know Credo build SerDes based on so called N-1 process technology and they can achieve similar or even superior power/performance because of their architecture and feature. They used to have expertise designing SerDes using extensive analog and mixed signal, and therefore have power advantage as compared with DSP+ADC approach. Besides, rather than supporting both PCIe and Ethernet, their SerDes only focused on Ethernet/optical protocols with selective frequency range so that they can optimize power further. (Of course, this can be their weakness from IP business pov.) Using N-1 process technology can make their products more cost competitive while claiming comparable power and performance.
Besides, their AEC (active ethernet cable) is unique to the market. It provides an low-cost yet more reliable alternative than optical fiber and passive cables. Credo AEC is tailor-made for cloud customers and has many different forms. This is by far their cash cow, followed by copper PHY products.