Astera Labs Inc. (Ticker: ALAB US) is a connectivity chip and cloud infrastructure management software company based in Santa Clara, California. Astera Labs focuses on resolving connectivity bottlenecks within AI infrastructure, offering solutions to increase data and memory bandwidth and capacity for CPUs and GPUs. Astera Labs Inc. is scheduled to list on the Nasdaq on March 20, 2024. The firm plans to offer 17.8 million shares, priced between $32 to $34 each (upsized from initial $27-30 range), aiming to raise up to $673 million. Upon completion of the IPO, Astera Labs will have 150.5 million shares outstanding, valuing the company at approximately $5.1 billion at the top end of the price range. The IPO is managed by lead underwriters Morgan Stanley and JPMorgan, among a total of 12 banks involved in the transaction.

The proceeds from the offering are intended for working capital, general corporate purposes, and potentially for acquisitions. Founded in 2017, Astera Labs has not yet achieved profitability, with a net loss of $26.3 million in 2023, which was an improvement from a $58.3 million loss in 2022. The company's revenue for 2023 was $115.8 million, up from $79.9 million the previous year.