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Astera Labs

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businessfinance1 year ago

"Tech IPOs Reddit and Astera Boost Morgan Stanley After Lull"

Reddit and Astera Labs broke the tech IPO drought, with Morgan Stanley leading both offerings, signaling a potential revival in the market. The IPOs brought in around $37 million in fees for the bank, providing a much-needed boost to its investment banking unit. The successful debuts of these companies could pave the way for more tech IPOs in the coming months, with potential benefits for investment banks and opportunities for follow-on offerings and acquisitions.

via CNBC|
#astera-labs#businessfinance#investment-banking
businesstech1 year ago

"Astera Labs' AI Chip IPO Skyrockets 72% in Debut"

Astera Labs, a company specializing in data center connectivity chips for cloud and AI infrastructure, saw its shares soar 72% in its Nasdaq debut, giving it a market cap of close to $9.5 billion. Amazon, one of its major customers, stands to benefit from this increase as it holds warrants to buy millions of Astera's shares. However, in order to fully benefit, Amazon must purchase up to $650 million worth of Astera's products in the coming years. This development reflects Wall Street's enthusiasm for AI-related companies, and comes as the tech IPO market anticipates Reddit's upcoming debut on the New York Stock Exchange.

via CNBC|
#ai#amazon#andy-jassy
business-technology1 year ago

"Astera Labs Rides AI Enthusiasm with Expanded IPO Amid Tech Stock Rally"

Astera Labs, a semiconductor connectivity company backed by Intel, has increased the size of its planned IPO by 26% amid growing investor interest in artificial intelligence. The company and its investors plan to sell 19.8 million shares at $32 to $34 each, potentially raising as much as $673.2 million. Founded in 2017, Astera develops semiconductor-based connectivity solutions aimed at enabling the mainstreaming of AI and machine learning in the cloud. The move comes as AI-related stocks, including Nvidia Corp., have seen significant gains, contributing to record highs in stock indexes.

via Yahoo Finance|
#artificial-intelligence#astera-labs#business-technology