NEW YORK — Texas Pacific Land Corp. shares jumped more than 10% in morning trading Friday, climbing to $417.06 as investors appeared to shake off recent volatility tied to the passing of a major shareholder and renewed optimism around the company’s diversification into AI infrastructure and data centers on its vast West Texas holdings.

The Dallas-based land and royalty company, listed on the NYSE as TPL, added $39.16, or 10.36%, by 11:12 a.m. EDT. The sharp rebound followed a steep sell-off earlier in the week after the announcement of the death of Murray Stahl, founder of Horizon Kinetics Asset Management, TPL’s largest shareholder. Shares had plunged as much as 15-17% on Thursday amid the news and broader energy sector weakness linked to easing Middle East tensions.

Texas Pacific Land owns roughly 900,000 acres in the Permian Basin, generating revenue primarily through oil and gas royalties, produced water royalties, and water sales to drilling operators. The business model is asset-light with exceptionally high margins — often exceeding 60% net — because the company collects royalties without bearing drilling or operating costs.

In its fourth-quarter and full-year 2025 results released in February, TPL reported record performance. Full-year revenue reached $798.2 million, net income hit $481.4 million or $6.97 per diluted share, and free cash flow stood at $498.3 million. Oil and gas royalty production averaged 34.6 thousand barrels of oil equivalent per day for the year, rising to a quarterly record of 37.5 thousand Boe/d in the fourth quarter. Water sales revenue climbed to $169.7 million annually, with Q4 alone delivering $60.7 million on 1.0 million barrels per day of volumes.

The company also raised its regular quarterly dividend by 12.5% to $0.60 per share and entered a new $500 million revolving credit facility while completing a three-for-one stock split in late 2025. Adjusted EBITDA for 2025 reached $687.4 million.

Analysts have grown increasingly bullish on TPL’s non-traditional growth avenues. In February, KeyBanc raised its price target sharply to $639 from $350 while maintaining an Overweight rating, citing opportunities in power generation, data centers and strong water segment trends. Other targets range widely, with consensus around $487 and some lower figures near $390, reflecting debate over valuation amid high multiples.

A key catalyst has been TPL’s strategic pivot toward AI and digital infrastructure. In December 2025, the company invested $50 million in Bolt Data & Energy, a platform chaired by former Google CEO Eric Schmidt. The partnership aims to develop large-scale “Closed Loop Energy Data Hubs” on TPL land, leveraging the company’s natural gas resources for power generation and treated water for cooling. TPL holds equity stakes, warrants and rights of first refusal for land and water supply to these projects.

Management has highlighted ambitions for gigawatt-scale data center development, potentially transforming surface acreage into high-value AI infrastructure. Reports of potential involvement from major tech players, including Google, have fueled investor excitement even as traditional energy exposure remains core.

Water services continue to provide a resilient revenue stream less directly tied to oil prices. Produced water royalties and sales volumes set records in 2025, benefiting from higher drilling activity in the Permian. TPL has also explored desalination opportunities to expand its water portfolio sustainably.

Despite the positive long-term narrative, the stock has experienced significant swings. It surged over 50% year-to-date through early 2026 on royalty strength and data center buzz but pulled back sharply in recent sessions. Thursday’s drop followed Stahl’s passing; Horizon Kinetics holds millions of shares, and the activist-leaning investor had played a key role in modernizing TPL’s governance and strategy in prior years. Horizon continued buying shares even after the news, purchasing additional units on April 8.

The company remains debt-light with substantial cash and liquidity. Its fortress balance sheet allows opportunistic investments and resilience during commodity downturns, a point emphasized by CEO Ty Glover on recent earnings calls.

TPL’s land position gives it unique leverage in the Permian, one of the world’s most productive oil basins. Operators drilling on or near its acreage pay royalties on production, while surface rights enable additional income from easements, water and now potential tech infrastructure. This diversified model has helped TPL outperform traditional energy plays during periods of price volatility.

Challenges persist. Revenue remains sensitive to drilling activity, rig counts and commodity prices, even with royalty structures providing downside protection. Some analysts caution that elevated valuations assume continued robust operator spending and successful execution on new initiatives like data centers, which remain in early stages. Recent operator capital discipline and fluctuating rig counts have raised questions about near-term growth sustainability.

Broader market context includes recovering oil prices after a brief dip tied to Middle East developments, though energy stocks overall showed mixed performance Friday. TPL’s outsized move suggests company-specific catalysts — particularly AI-related speculation — are driving the rebound.

Upcoming events include a shareholder office and field visit in Midland on May 18, 2026, with an RSVP deadline already passed. The gathering offers investors a closer look at operations, water assets and potential development sites.

Founded originally in the 19th century and restructured as a modern corporation, Texas Pacific Land has evolved from a legacy land trust into a high-margin royalty and resource play. It maintains a lean structure with minimal overhead, allowing most incremental revenue to flow to the bottom line.

Insider and institutional interest remains notable. Major holders like Horizon Kinetics have demonstrated ongoing confidence through purchases, while short interest hovers around 6% of float. The stock’s beta near 1.0 indicates it moves with the broader market but amplifies energy and growth themes.

Technical analysts noted Friday’s surge broke short-term resistance after the recent pullback, with elevated volume signaling renewed buying interest. Longer-term charts show the shares well above 2025 lows despite volatility.

As TPL prepares Q1 2026 results in coming weeks, focus will center on royalty production trends, water volumes, progress with Bolt Data & Energy and any updates on surface development. Guidance or commentary on 2026 outlook could further influence sentiment.

The company’s story blends old-economy energy royalties with forward-looking bets on AI power and data infrastructure needs. In an era of surging electricity demand from data centers and hyperscalers, TPL’s land, water and energy resources position it uniquely at the intersection of traditional resources and next-generation technology.

While risks around execution, commodity cycles and high valuations remain, Friday’s rally underscores investor willingness to price in diversification potential. With Permian activity resilient and new revenue streams emerging, Texas Pacific Land continues to attract attention as both a defensive royalty play and a speculative growth name in the evolving energy-AI landscape.

Songkran, Thailand’s iconic water festival, fosters family unity and joy. Celebrated in April, it offers meaningful connections, creating lasting memories across generations through shared experiences and cultural traditions.

Songkran: A Festival of Family Unity

Songkran is deeply rooted in family traditions, serving as a vibrant celebration of joy and connection. This iconic water festival, celebrated in Thailand every April, transforms cities into living classrooms of shared experiences and lasting memories. Beyond the water fights, Songkran fosters a deeper sense of togetherness among families, strengthening bonds across generations.

Celebrating in the Heart of Thailand

In Bangkok, Songkran offers family-friendly experiences at locations like centralwOrld and Siam Square, blending tradition with safety. While Khao San Road is energetic, families can find designated splash zones that prioritize safety with crowd control and shaded areas. These spaces provide peace of mind for parents, allowing everyone to fully enjoy the festivities.

Embrace Diversity in Celebrating Songkran

Exploring beyond the capital, Chiang Mai offers spiritual experiences with ceremonies at ancient temples, promoting family teamwork and unity. In Pattaya, the lively Wan Lai festival showcases water-themed activities perfect for families seeking fun in the sun. Ayutthaya’s ancient ruins offer a unique cultural backdrop, transforming Songkran into a celebration of renewal, unity, and shared family joy.

Source : Splashing Through the Generations – TAT Newsroom

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NEW YORK — Credo Technology Group Holding Ltd. shares surged more than 10% in morning trading Friday, reaching $119.23 as investors piled into the high-speed connectivity specialist amid unrelenting demand for its solutions powering massive AI data center buildouts.

The San Jose, California-based company, listed on Nasdaq as CRDO, added $11.30, or 10.47%, by 11:16 a.m. EDT. The sharp move came as the market continued to reward Credo’s exceptional growth in providing energy-efficient interconnects critical for linking thousands of GPUs in next-generation AI training and inference clusters.

Credo specializes in high-performance connectivity solutions, including Active Electrical Cables (AECs), optical digital signal processors (DSPs), retimers and SerDes technologies that operate at speeds up to 1.6 terabits per second. These products solve critical bottlenecks in data movement within hyperscale AI infrastructures, where traditional passive copper cables fall short due to power, weight and reach limitations.

The rally builds on Credo’s blockbuster fiscal third-quarter 2026 results reported in early March. Revenue exploded to $407.0 million for the quarter ended Jan. 31, 2026, representing a staggering 201.5% increase from the year-ago period and 51.9% sequential growth. The performance far exceeded prior guidance and analyst expectations, driven primarily by surging adoption of Credo’s AECs among major hyperscalers.

Non-GAAP gross margins reached an impressive 68.6%, while non-GAAP operating margins expanded to around 49.6%. Non-GAAP net income hit a record $208.8 million, or $1.07 per diluted share. Free cash flow for the quarter stood at $139.7 million, underscoring the company’s exceptional profitability and capital efficiency for a high-growth semiconductor player.

CEO Bill Brennan highlighted the strength of hyperscaler demand during the earnings call, noting expanded AEC adoption with an additional major customer. Product revenue, which includes AECs and optical solutions, continued its rapid ramp, with the top three customers each contributing more than 10% of total revenue in the period. Management has guided for full fiscal 2026 revenue around $1.33 billion, implying over 200% year-over-year growth.

Credo’s momentum has been fueled by the AI infrastructure boom. As companies scale GPU clusters for large language models and other generative AI workloads, the need for reliable, low-power, high-bandwidth interconnects has skyrocketed. Credo’s AECs offer a compelling alternative to passive copper by incorporating active signal processing in thinner, lighter cables that improve airflow, reduce weight and extend reach within data center racks.

The company has aggressively expanded its portfolio to capture more of the AI connectivity stack. In March 2026, Credo launched the 800G ZeroFlap optical transceivers engineered specifically for AI networks, addressing link stability issues that can disrupt large-scale fabrics. It also introduced the Cardinal family of low-power 1.6T optical DSPs for massive-scale AI fabrics and the Robin 800G optical DSP family tailored for next-wave AI applications.

These innovations build on Credo’s core SerDes technology and its PILOT diagnostic and analytics platform, which provides real-time telemetry to enhance reliability in complex AI environments. Demonstrations at the Optical Fiber Communication Conference in March showcased 400G and 800G ZeroFlap solutions in live AI network fabrics.

Credo has also resolved key intellectual property matters. In late March, it reached settlement agreements with TE Connectivity and Molex regarding active electrical cable patent disputes, clearing potential obstacles and allowing focus on execution and innovation.

Analysts remain broadly bullish on Credo’s prospects. Consensus price targets cluster around $200, with some high-end forecasts reaching $260, implying substantial upside from current levels. Firms have cited Credo’s strong execution, expanding customer base and positioning in the multi-billion-dollar AI interconnect market. Recent commentary has emphasized diversification beyond a few hyperscalers, with growing traction among neocloud providers and additional large-scale operators.

The stock has delivered extraordinary returns, with one-year gains exceeding 200% and multi-year performance far outpacing broader indices. Yet volatility persists, reflecting the high-growth, high-valuation nature of AI-related semiconductor plays. Shares pulled back modestly after the March earnings release before rebounding on continued positive sentiment around AI spending.

Financially, Credo maintains a robust balance sheet with significant cash reserves that support ongoing R&D and potential strategic moves. Operating leverage has improved markedly as revenue scales, with management emphasizing disciplined expense growth even as it invests in next-generation 1.6T and beyond technologies.

Challenges remain in the competitive landscape. While Credo has carved out leadership in AECs — a category it helped pioneer — larger players in optical DSPs and traditional networking continue to vie for share. Broader concerns around AI capex sustainability, potential shifts in hyperscaler spending patterns and commodity copper dynamics have occasionally weighed on sentiment. However, recent reaffirmations from industry leaders about the continued importance of both copper and optical solutions in AI fabrics have supported the narrative.

Credo was founded with a focus on energy-efficient connectivity and has evolved into a key enabler of the AI revolution. Its solutions address the “plumbing” of modern data centers, where efficient data movement between GPUs, CPUs, memory and storage directly impacts training times, inference performance and overall power consumption — critical factors as electricity demands from AI infrastructure soar.

Looking ahead, investors will watch for the fiscal fourth-quarter results, expected in May or June, along with updates on 800G and 1.6T product ramps, further customer wins and progress on emerging platforms like OmniConnect gearboxes and potential microLED collaborations. Guidance for the new fiscal year could provide additional visibility into sustained hyper-growth.

Broader market tailwinds include sustained hyperscaler investments in AI, with major cloud providers and tech giants committing hundreds of billions to data center expansion. Credo’s ability to deliver differentiated, standards-based solutions at scale positions it well to capture a growing portion of the expanding total addressable market in AI connectivity, projected to reach tens of billions of dollars in coming years.

Friday’s trading volume was notably elevated as the stock broke through recent resistance levels. Technical observers noted the potential for continued momentum if AI-related news flow remains positive and broader semiconductor sentiment holds.

As one of the purest plays on the infrastructure buildout supporting artificial intelligence, Credo Technology has captured Wall Street’s imagination. With record-breaking revenue growth, expanding margins and a pipeline of innovative products addressing real pain points in massive AI clusters, the company stands out in a crowded field of AI beneficiaries.

While execution risks, valuation debates and cyclical semiconductor dynamics persist, Credo’s demonstrated ability to exceed expectations and innovate rapidly has built significant investor confidence. The coming quarters will test whether it can sustain this trajectory as the industry transitions from 800G to 1.6T interconnects and beyond.

For now, the AI connectivity story continues to drive enthusiasm, with Credo firmly established as a critical link in the chain powering the generative AI megatrend.