AI Data Center Beneficiary Executive Sells Additional Shares Worth Billions While Retaining 1.5 Trillion Won Stake

Cheng Chi Fung, CTO of Credo Technology Group Holding Ltd (Nasdaq: CRDO), executed two consecutive sales of the company’s common stock under a pre-established Rule 10b5-1 trading plan via a family trust on April 27 and May 1, raising approximately $10.7 million (about KRW 14 billion) in cash.

After these transactions, the trust still indirectly holds around 6 million shares—worth roughly $1.1 billion (approximately KRW 1.5 trillion) based on the sale prices—a stake disclosed as part of a systematic equity disposition program.

On May 19, the company withheld shares valued at about $1 million (mid-KRW 1 billion range) to cover taxes on RSUs vesting for Chief Legal Officer James Laufman, who continues to hold equity valued in the tens of millions of dollars.

The company has recently expanded its enterprise AI inference infrastructure business by partnering with South Korean AI infrastructure firm Rebellion to integrate Credo’s ZeroFlap technology into Rebellion’s RebelPOD AI factory.

In April, Credo agreed to acquire silicon-photonics transceiver specialist DustPhotonics to bolster its data-center silicon-photonics solutions, marking a strategic push into the high-speed optical-connectivity market for AI data centers.

Credo Technology Group is a fabless semiconductor company listed on Nasdaq that provides high-speed, low-power connectivity solutions for AI and cloud data centers, generating most of its revenue from major customers in North America and Asia.

Leveraging AI data-center investments over the past few years, the company has rapidly grown its sales and broadened its portfolio—ranging from active electrical cables and optical DSPs to silicon photonics—solidifying its position as a key supplier of next-generation AI infrastructure components.