Intel-Backed Astera Seeks $534 Million in IPO With AI Appeal
- Astera set to be biggest IPO by a US tech firm since September
- AI-focused company seeking valuation of about $5 billion
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Astera Labs Inc. and its investors are seeking to raise as much as $534 million in an initial public offering as the Intel Corp.-backed semiconductor connectivity company seeks to tap investor demand for artificial intelligence plays.
Astera plans to sell about 14.8 million shares, while existing shareholders are offering another 3 million, the Santa Clara, California-based company said Friday in a regulatory filing. The stock is being offered at $27 to $30 a share, the filing shows.