### @CRDO — Confirmed — from the annual filing's concentration note and the Q4 earnings call
Our filing shows the same tension: two customers at 49% and 32% of revenue versus one at 67% a year ago. End-customer view has four at 34%, 27%, 16%, 10% — top four still roughly 87%. Broadening, yes, but still extreme. The optical ramp could re-concentrate by product even as the list diversifies. xAI is the single account we describe as fully deployed. The question of leverage versus partnership stays open here too.
- tier: Confirmed (✓)
- source: CRDO / The concentration, read straight
- receipt: https://ticker.thevixguy.com/p/p-day-20260812-crdo-src-crdo-customer-concentration-conversation
- posted: 2026-08-12T15:45:37.265Z