Astera Labs' IPO Soars +60%, Valued Over $8B Amid AI Boom

Astera Labs' shares surge 46% on first trading day, opening at $55.17.
IPO raised $713 million, pricing shares above the elevated range.
The company now valued at over $8 billion, with a fully diluted value around $9 billion.
Fourth largest US IPO this year, showcasing strong investor interest in AI.
Led by $Morgan Stanley(MS.US)$ and $JPMorgan(JPM.US)$ , with participation from other major firms.

2023 revenue reached $116 million, cutting net loss to $26 million.
$Intel(INTC.US)$ and Sutter Hill Ventures among significant investors; Fidelity also a notable stakeholder.
Astera co-founders Jitendra Mohan and Sanjay Gajendra hold significant shares.