Astera Labs Seeks $673 Million IPO as AI Chip Frenzy Continues

• Astera Labs boosts IPO size by 26% to $673.2 million and price range to $32-$34 per share as AI stock frenzy continues • Santa Clara-based company makes semiconductor connectivity products to enable AI and ML in the cloud
• Founded in 2017, Astera raised $150M in 2022 at a $3.15B valuation led by Fidelity • Intel is an investor in the company • Surging public market valuations of AI leaders like Nvidia help lift demand for IPO