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Astera Labs' IPO success adds $1.5bn to its market value

Freshly IPOd Astera Labs saw its shares rise by 72% just two days after its stellar market debut, valuing the company way beyond the initial estimate of $4.51bn.

Astera Labs, which offers high-speed data transfer technology for AI computing and other data centre applications, floated on Tuesday at USD 36 per share. But it ended its first day of trading at $62.03. Prices surged more than 16% on its second day, which put the firm on course to add about USD 1.5 billion in market value. At time of writing the share piece was USD 80.

The company has originally hoped to raise up to USD 534 million by selling 17.8 million shares priced between $27 and $30 each. Obviously, it smashed those targets, and has ended the week a market value of about USD 5.5 billion.

Predictably, the clamour was all based around the potential of AI-based computing and Astera Labs potential to exploit it. Astera develops PCIe, CXL and Ethernet semiconductor-based connectivity solutions, which are purpose-built to unleash the potential of cloud and AI infrastructure.


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June 13 2024 1:49 pm V22.4.55-1