Astera Labs, a developer of chips for various artificial intelligence solutions, intends to raise up to $534 million in an initial public offering by selling 14.79 million securities at $27-$30 per share.
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At the same time, the company, now valued at $3.15 billion, hopes to increase its market valuation to $4.5 billion, Reuters writes. Astera Labs’ main bet is the “boom” of investments in artificial intelligence and the support of the main players in the technology market (for example, Intel, Nvidia, AMD, Synaptics, etc.).
Astera will list its shares on the Nasdaq Global Select Market under the symbol ALAB. Morgan Stanley and JP Morgan Securities will act as lead underwriters for the offering.
The main products of Astera, founded in 2017, are the Aries and Leo chips, which increase the bandwidth and memory capacity of various types of processors (including graphics), and Taurus, which provides high performance to servers. artificial intelligence.
Author:
Ekaterina Alipova
Source: RB
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