Astera Labs, a semiconductor connectivity company backed by Intel, has increased the size of its initial public offering (IPO) amid growing enthusiasm for artificial intelligence (AI). The firm has raised its price range from $27-$30 to $32-$34 per share and the number of shares from 17.8 million to 19.8 million, aiming for a valuation of up to $5.18 billion in its upsized U.S. IPO. The IPO's deal size has been boosted by 26% to 29%, with the company now planning to raise approximately $673 million. The ticker symbol for Astera Labs is $ALAB.
Astera Labs, Reddit Set to Debut as IPO Activity Remains Low for 2024 $INTC $ARM #stocks #investing #valueinvesting #semiconductor #SocialMedia https://t.co/62heWLAmc5
Astera Labs boosted the size of its IPO by 26%, now planning to raise $673M at a $5.2B valuation at the top of its range. $INTC $NVDA $AMD $ORCL $MSFT https://t.co/8myF0NB2xg
Astera Labs eyes valuation of up to $5.18 bln in upsized US IPO https://t.co/gF9by2MNrb https://t.co/uj4xiuGhTV
Astera Labs eyes valuation of up to $5.18-billion in upsized U.S. IPO https://t.co/hLx6QBSVrG
Chip connectivity firm Astera Labs ups deal size by 29% ahead of $653 million IPO $ALAB $IPO #IPO https://t.co/B5htSVgYLO
Intel-backed semiconductor connectivity company Astera boosts the size of its IPO by 26% amid the artificial intelligence frenzy https://t.co/A98cOshBi7
Astera Labs, new AI IPO upsizes from 17.8m shares to 19.8m and increases range from $27-$30 to $32-$34 price per share. At the top of the range, deal size would be $673.2m pre-shoe $ALAB
Astera Labs taps AI enthusiasm as it boosts price range and number of shares in IPO https://t.co/PsYQX5rLLj
Astera Labs is seeking to raise at least $534M in an IPO, valuing the Intel-backed cloud chip connectivity startup at $4.5B, a 50% premium to the $3B valuation it achieved in its last funding round in 2022. $INTC $NVDA $AMD $ORCL $MSFT