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Astera Labs’ IPO pops 54%, showing that investor demand for tech with an AI-twist is high

TechCrunch · 1y ago

Astera Labs’ IPO pops 54%, showing that investor demand for tech with an AI-twist is high

Astera Labs, a company that makes connectivity hardware for cloud computing data centers, enjoyed a successful IPO, with shares trading at a 46% increase. The company's revenue has been growing thanks to the increasing demand for AI and data center buildouts. Its IPO price valued the company at $5.5 billion, rising to around $8.9 billion at its current trading price. Astera's strong performance shows the market's appetite for AI-related shares and could encourage other tech companies to go public. Additionally, Astera's success could pave the way for Reddit's own anticipated IPO.

Related News

Astera Labs IPO will reveal how much investors want in on AI

TechCrunch · 1y ago

Astera Labs IPO will reveal how much investors want in on AI

Astera Labs, an AI hardware company, is set to go public with a larger offering than originally planned. The company expects to raise $517.6 million at a valuation of around $5.2 billion. Astera Labs provides connectivity hardware for cloud computing data centers, benefiting from the increasing demand for AI and data center spending. While its AI angle may be debatable, its recent growth and profitability are driving investor interest. If successful, Astera Labs' IPO could pave the way for other AI-related companies to go public.

Astera Labs eyes valuation of up to $5.18 bln in upsized US IPO

Reuters · 1y ago

Astera Labs eyes valuation of up to $5.18 bln in upsized US IPO

Astera Labs is aiming for a valuation of up to $5.18 billion in its U.S. initial public offering (IPO). The chip firm plans to raise up to $673.2 million by selling 19.8 million shares, priced between $32 and $34 per share. Astera had originally targeted $534 million in its IPO, but increased the size of the offering due to strong demand. The listing comes as the popularity of artificial intelligence (AI) continues to rise, driving the growth of tech companies. Astera will list its shares on the Nasdaq Global Select Market under the ticker symbol "ALAB".

Astera Labs seeks to raise around $713 mln in IPO at $5.5 bln valuation

Reuters · 1y ago

Astera Labs seeks to raise around $713 mln in IPO at $5.5 bln valuation

Astera Labs, a chip firm, has priced its initial public offering (IPO) at $36 per share, aiming to raise around $712.8 million. This exceeds the company's previous target range, giving it a valuation of about $5.5 billion. Astera Labs provides data center components to large cloud service providers and has seen increased demand due to the growing popularity of AI. The IPO comes as technology firms, such as Nvidia, continue to experience a surge in stocks. The company's shares are expected to begin trading on Nasdaq on March 20.

Chipmaker Astera Labs files for US IPO

Reuters · 1y ago

Chipmaker Astera Labs files for US IPO

Chipmaker Astera Labs has submitted an initial public offering (IPO) filing in the U.S. market. This move comes as the IPO market is expected to bounce back from a two-year slowdown caused by the Federal Reserve's interest rate hikes and global uncertainties. Astera Labs is based in Santa Clara, California, and plans to list its shares on the Nasdaq Global Select Market. The lead underwriters for the offering are Morgan Stanley and J.P. Morgan Securities.

Technology services firm Synechron confidentially files for 2024 IPO, sources say

Reuters · 1y ago

Technology services firm Synechron confidentially files for 2024 IPO, sources say

Technology and consulting services firm Synechron has confidentially filed for an initial public offering (IPO) that could happen in the first half of 2024. The company aims to raise approximately $400 million and achieve a valuation of about $3 billion. They have enlisted Goldman Sachs and JPMorgan Chase as the lead underwriters. Synechron provides generative artificial intelligence services to enterprise customers and operates globally with over 15,000 employees in 48 offices across 19 countries. The IPO marks the latest tech unicorn seeking to go public following successful offerings by Reddit and Astera Labs.

Rubrik’s IPO filing hints at thawing public markets for tech companies

TechCrunch · 1y ago

Rubrik’s IPO filing hints at thawing public markets for tech companies

Data cybersecurity company Rubrik has filed for an initial public offering (IPO) after raising over $500 million in private funding. The move follows recent IPOs from Reddit and Astera Labs, signalling a warming market for tech companies. Rubrik's cloud-based data protection platform serves enterprise customers, with over 1,700 clients with an annual contract value of $100,000 and nearly 100 customers paying over $1 million annually, according to its IPO filing. While Rubrik saw moderate growth as a software firm, its subscription revenue grew 40% from its fiscal 2023 to fiscal 2024. However, the company also reported net losses of $354 million in its most recent fiscal year.

Figma set to debut as blockbuster US IPO lifts revival hopes - The Economic Times

Economic Times

Economic Times · 28d ago

Figma set to debut as blockbuster US IPO lifts revival hopes - The Economic Times

Figma, a design software firm, debuted in a significant US IPO, securing a $19.34 billion valuation, slightly below the $20 billion expected from a previously canceled Adobe acquisition. Priced at $33 per share, Figma raised $1.22 billion, signaling a revival in the IPO market. Backed by major investors like Sequoia Capital, Figma's focus on integrating AI into design workflows positions it among high-growth tech companies, attracting strong investor interest.

Indian Companies Buck the Trend, Increasing AI Talent Hiring Amidst Tech Slowdown

Business Bytes

Business Bytes · 1y ago

Indian Companies Buck the Trend, Increasing AI Talent Hiring Amidst Tech Slowdown

Amidst a hiring slowdown in the Indian tech sector, several companies like Tredence, Compunnel, HARMAN, and SAP Labs are actively investing in AI talent acquisition. These companies have ambitious hiring goals, reflecting their commitment to AI-driven growth. The demand for AI talent in India is high, particularly for skills in machine learning, natural language processing (NLP), programming languages, and DevOps. Although there is a shortage of AI talent in India, the country has seen significant growth in skilled professionals in recent years. This highlights the importance of AI in shaping the future of businesses and technology.

Design software maker Figma's shares surge 158% in blowout market debut - The Economic Times

Economic Times

Economic Times · 28d ago

Design software maker Figma's shares surge 158% in blowout market debut - The Economic Times

Figma's shares soared 158% during its market debut, valuing the company at approximately $50 billion. This significant rise marks a resurgence in the US IPO market, predicted to end a three-year lull. Figma, known for its collaborative design software, has attracted big names like Netflix and Airbnb as clients and investors like Sequoia Capital. The company's strong focus on integrating AI tools reflects growing demand for automation, igniting further investor interest in tech IPOs.

Top earners fear creativity loss in AI era, even as salaries soar: Naukri report

Economic Times

Economic Times · 1m ago

Top earners fear creativity loss in AI era, even as salaries soar: Naukri report

According to a report by Naukri.com, 40% of high-earning professionals fear AI could hinder creativity, particularly in creative industries like animation (54%), film (43%), and advertising (41%). Despite these concerns, 86% of Indian job seekers view AI positively, recognizing its role in boosting job opportunities and salaries across various sectors. The demand for AI skills is rising, with notable salary premiums in AI roles compared to non-AI positions. AI job growth is especially prominent beyond traditional IT sectors.

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