Astera Labs Sees Meteoritic Revenue Growth Ahead of $5B AI-Fueled IPO
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Astera Labs makes connectivity hardware for cloud computing data centers and is benefiting from AI data center spending, though it's not directly an AI company.
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Astera recently saw a spike in revenue growth, from $10.7M in Q2 2023 to $50.5M in Q4 2023.
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Along with revenue growth, Astera swung from a $20M net loss in Q2 2023 to a $14.3M profit in Q4 2023.
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Astera's IPO is set to value the company around $5.2 billion, up from its last private valuation of $3.15 billion.
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If Astera sees strong initial trading, it could open the door for more tech IPOs aiming to capitalize on AI industry growth.