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Valued at a market cap of $9 billion, Astera Labs (ALAB) went public in March 2024, rising 72% in its trading debut.
Astera Labs is a fabless semiconductor company that offers connectivity solutions for data-centric systems. Its product portfolio includes semiconductor integrated circuits, boards, and services to enable PCIe (peripheral component interconnect express) connectivity. Astera has partnered with processor vendors, cloud service providers, and manufacturing companies, helping enterprises eliminate performance bottlenecks in compute-intensive workloads.