Astera Labs Boosts IPO Size, Price Range as AI Stocks Rally
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Astera Labs Inc., an Intel Corp.-backed semiconductor connectivity company, raised the size of its planned initial public offering by 26% as the investor frenzy around artificial intelligence plays picks up steam.
Astera and its investors plan to sell 19.8 million shares at $32 to $34 each, according to an updated registration statement filed Monday with the Securities and Exchange Commission. The offering would raise as much as $673.2 million.