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2023-07-24
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Astera Labs' Stock Soars 72%, as Investors Cheer the Debut of a New AI Chip Play
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news…","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/286515938119816","repostId":"2421770123","repostType":2,"isVote":1,"tweetType":1,"viewCount":62,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":201422533636176,"gmtCreate":1690202980381,"gmtModify":1690203989848,"author":{"id":"4136973613830312","authorId":"4136973613830312","name":"Bond77","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4136973613830312","authorIdStr":"4136973613830312"},"themes":[],"htmlText":"Share your opinion about this news…","listText":"Share your opinion about this news…","text":"Share your opinion about this news…","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/201422533636176","repostId":"1136184854","repostType":2,"repost":{"id":"1136184854","kind":"news","pubTimestamp":1690202022,"share":"https://ttm.financial/m/news/1136184854?lang=&edition=fundamental","pubTime":"2023-07-24 20:33","market":"us","language":"en","title":"Microsoft to Get Golden 1-2 Punch From Cloud, AI, Wedbush Says","url":"https://stock-news.laohu8.com/highlight/detail?id=1136184854","media":"Seeking Alpha","summary":"Microsoft (NASDAQ:MSFT) is slated to report fiscal fourth-quarter results on Tuesday and Wedbush Securities believes the tech giant will get a \"golden 1-2 punch\" from the cloud and artificial intellig","content":"<html><head></head><body><p>Microsoft (NASDAQ:MSFT) is slated to report fiscal fourth-quarter results on Tuesday and Wedbush Securities believes the tech giant will get a "golden 1-2 punch" from the cloud and artificial intelligence.</p><p style=\"text-align: left;\">Analyst Dan Ives, who has an outperform rating and per-share price target of $375 on Microsoft (MSFT), said the growth rate for Auzre is the "key number" but a big beat is not something Wall Street is expecting.</p><p style=\"text-align: left;\">"In a nutshell, we expect a cloud beat for the June quarter along with generally optimistic commentary out of Microsoft towards cloud and AI spend and some cookie-cutter caution on the choppy and unpredictable macro," Ives wrote in an investor note, adding that Wall Street is expecting Azure to grow 26% in constant currency. Conversely, Ives said Azure could grow as much as 28% or 29%, given recent checks.</p><p style=\"text-align: left;\">Ives also said that Azure is gaining "incremental share" from Amazon (AMZN) AWS in the field and core enterprise cloud workloads are in the company's "backyard," as ChatGPT is now leading the AI path in the cloud world.</p><p style=\"text-align: left;\">Looking ahead to fiscal 2024, Ives is expecting Microsoft (MSFT) to boost capital spending due to the "transformational AI Gold Rush opportunity" the company is facing.</p><p style=\"text-align: left;\">"The Street is focused on what this cloud and AI growth opportunity looks like the next few years as we believe it ultimately blows the lid off the growth for Redmond the next few years" Ives added. "We estimate for every $100 of cloud spend with Microsoft the last decade there is $35-$40 of incremental AI spend now on the horizon for MSFT the next 3-4 years."</p><p style=\"text-align: left;\">A consensus of analysts are expecting Microsoft (MSFT) to earn $2.55 per share on $55.48B in revenue.</p></body></html>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Microsoft to Get Golden 1-2 Punch From Cloud, AI, Wedbush Says</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMicrosoft to Get Golden 1-2 Punch From Cloud, AI, Wedbush Says\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-07-24 20:33 GMT+8 <a href=https://seekingalpha.com/news/3989997-microsoft-golden-1-2-punch-from-cloud-ai-wedbush><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Microsoft (NASDAQ:MSFT) is slated to report fiscal fourth-quarter results on Tuesday and Wedbush Securities believes the tech giant will get a \"golden 1-2 punch\" from the cloud and artificial ...</p>\n\n<a href=\"https://seekingalpha.com/news/3989997-microsoft-golden-1-2-punch-from-cloud-ai-wedbush\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MSFT":"微软"},"source_url":"https://seekingalpha.com/news/3989997-microsoft-golden-1-2-punch-from-cloud-ai-wedbush","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1136184854","content_text":"Microsoft (NASDAQ:MSFT) is slated to report fiscal fourth-quarter results on Tuesday and Wedbush Securities believes the tech giant will get a \"golden 1-2 punch\" from the cloud and artificial intelligence.Analyst Dan Ives, who has an outperform rating and per-share price target of $375 on Microsoft (MSFT), said the growth rate for Auzre is the \"key number\" but a big beat is not something Wall Street is expecting.\"In a nutshell, we expect a cloud beat for the June quarter along with generally optimistic commentary out of Microsoft towards cloud and AI spend and some cookie-cutter caution on the choppy and unpredictable macro,\" Ives wrote in an investor note, adding that Wall Street is expecting Azure to grow 26% in constant currency. Conversely, Ives said Azure could grow as much as 28% or 29%, given recent checks.Ives also said that Azure is gaining \"incremental share\" from Amazon (AMZN) AWS in the field and core enterprise cloud workloads are in the company's \"backyard,\" as ChatGPT is now leading the AI path in the cloud world.Looking ahead to fiscal 2024, Ives is expecting Microsoft (MSFT) to boost capital spending due to the \"transformational AI Gold Rush opportunity\" the company is facing.\"The Street is focused on what this cloud and AI growth opportunity looks like the next few years as we believe it ultimately blows the lid off the growth for Redmond the next few years\" Ives added. \"We estimate for every $100 of cloud spend with Microsoft the last decade there is $35-$40 of incremental AI spend now on the horizon for MSFT the next 3-4 years.\"A consensus of analysts are expecting Microsoft (MSFT) to earn $2.55 per share on $55.48B in revenue.","news_type":1},"isVote":1,"tweetType":1,"viewCount":103,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":201422533636176,"gmtCreate":1690202980381,"gmtModify":1690203989848,"author":{"id":"4136973613830312","authorId":"4136973613830312","name":"Bond77","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4136973613830312","authorIdStr":"4136973613830312"},"themes":[],"htmlText":"Share your opinion about this news…","listText":"Share your opinion about this news…","text":"Share your opinion about this news…","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/201422533636176","repostId":"1136184854","repostType":2,"isVote":1,"tweetType":1,"viewCount":103,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":368094465986768,"gmtCreate":1730884659747,"gmtModify":1730888387042,"author":{"id":"4136973613830312","authorId":"4136973613830312","name":"Bond77","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4136973613830312","authorIdStr":"4136973613830312"},"themes":[],"htmlText":"I believe it will be","listText":"I believe it will be","text":"I believe it will be","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/368094465986768","isVote":1,"tweetType":1,"viewCount":8,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":286515938119816,"gmtCreate":1710984880469,"gmtModify":1710985221469,"author":{"id":"4136973613830312","authorId":"4136973613830312","name":"Bond77","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4136973613830312","authorIdStr":"4136973613830312"},"themes":[],"htmlText":"Share your opinion about this news…","listText":"Share your opinion about this news…","text":"Share your opinion about this news…","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/286515938119816","repostId":"2421770123","repostType":2,"repost":{"id":"2421770123","kind":"highlight","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1710984684,"share":"https://ttm.financial/m/news/2421770123?lang=&edition=fundamental","pubTime":"2024-03-21 09:31","market":"nz","language":"en","title":"Astera Labs' Stock Soars 72%, as Investors Cheer the Debut of a New AI Chip Play","url":"https://stock-news.laohu8.com/highlight/detail?id=2421770123","media":"Dow Jones","summary":"Astera Labs got a warm reception in its Wall Street debut Wednesday, giving investors yet another hot chip play to consider.The first trade of Astera Labs' stock $(ALAB)$ was at 12:39 p.m. Eastern for","content":"<html><head></head><body><p>Astera Labs got a warm reception in its Wall Street debut Wednesday, giving investors yet another hot chip play to consider.</p><p>The first trade of Astera Labs' stock <a href=\"https://laohu8.com/S/ALAB\">$(ALAB)$</a> was at 12:39 p.m. Eastern for 2.6 million shares at $52.56, or 46% above its $36 initial-public-offering price. Shares ended the day at $62.03, up 72% from the IPO price.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/9f44b0681ff76a942bd08c30cca6f6b1\" tg-width=\"859\" tg-height=\"846\"/></p><p>With about 152.5 million shares outstanding after the IPO, the opening price implies a market capitalization for Astera of about $9.6 billion</p><p>The connectivity-focused semiconductor company, which raised $713 million in its IPO, debuted on the Nasdaq under the ticker symbol "ALAB."</p><p>Astera Labs plays into the artificial-intelligence craze through its work in chip connectivity. There's been a proliferation of AI chips recently, but Astera Labs says customers won't be able to get the most out of them without technology that helps AI chips connect and communicate with other aspects of a data center.</p><p>"Processors do a phenomenal job with computational functions," President Sanjay Gajendra told MarketWatch, but Astera Labs' products help them interconnect.</p><p>Chief Executive Jitendra Mohan said that the AI work processors are trying to do in data centers is akin to a marathon run at sprint speed, which can be tiring. Astera Labs' technology tries to convert that marathon into a relay race, he said, with processors sending signals to Astera Labs products that enable data-center components to talk with one another.</p><p>The company remains unprofitable, though its $26.3 million net loss during 2023 was about half of the $58.3 million loss that the company logged a year before. Revenue for 2023 rose to $115.8 million from $79.9 million.</p><p>The company has been reducing its revenue concentration from its largest customers, though the top three made up about 70% of the company's sales last year.</p><p>Because Astera Labs sells to larger hyperscaler customers, its revenue is naturally concentrated, according to Mohan, but he noted that the company sells multiple products to those customers. Meanwhile, it's perhaps "less known" that the company sells to original equipment manufacturers, he added.</p><p>Mohan, Gajendra and Casey Morrison launched the business in a garage, and the three of them continue to hold operational roles at Astera Labs, with Morrison serving as chief product officer.</p><p>He flagged the diversity of the company's product offerings, which include Aries for extending connectivity between processors, Taurus for extending servers and switches over ethernet and Leo for expanding memory access.</p><p>Chip stocks have gotten a nice boost recently, with the PHLX Semiconductor Index SOX up about 51% over the past 12 months.</p><p>Gajendra said the company opted to go public now because AI is "everywhere," and Astera Labs has big aims. It aspires to be "the next big leader in AI and computing," he said.</p><p>The company will use its IPO proceeds in part to accelerate development and grow its staff.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Astera Labs' Stock Soars 72%, as Investors Cheer the Debut of a New AI Chip Play</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAstera Labs' Stock Soars 72%, as Investors Cheer the Debut of a New AI Chip Play\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2024-03-21 09:31</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Astera Labs got a warm reception in its Wall Street debut Wednesday, giving investors yet another hot chip play to consider.</p><p>The first trade of Astera Labs' stock <a href=\"https://laohu8.com/S/ALAB\">$(ALAB)$</a> was at 12:39 p.m. Eastern for 2.6 million shares at $52.56, or 46% above its $36 initial-public-offering price. Shares ended the day at $62.03, up 72% from the IPO price.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/9f44b0681ff76a942bd08c30cca6f6b1\" tg-width=\"859\" tg-height=\"846\"/></p><p>With about 152.5 million shares outstanding after the IPO, the opening price implies a market capitalization for Astera of about $9.6 billion</p><p>The connectivity-focused semiconductor company, which raised $713 million in its IPO, debuted on the Nasdaq under the ticker symbol "ALAB."</p><p>Astera Labs plays into the artificial-intelligence craze through its work in chip connectivity. There's been a proliferation of AI chips recently, but Astera Labs says customers won't be able to get the most out of them without technology that helps AI chips connect and communicate with other aspects of a data center.</p><p>"Processors do a phenomenal job with computational functions," President Sanjay Gajendra told MarketWatch, but Astera Labs' products help them interconnect.</p><p>Chief Executive Jitendra Mohan said that the AI work processors are trying to do in data centers is akin to a marathon run at sprint speed, which can be tiring. Astera Labs' technology tries to convert that marathon into a relay race, he said, with processors sending signals to Astera Labs products that enable data-center components to talk with one another.</p><p>The company remains unprofitable, though its $26.3 million net loss during 2023 was about half of the $58.3 million loss that the company logged a year before. Revenue for 2023 rose to $115.8 million from $79.9 million.</p><p>The company has been reducing its revenue concentration from its largest customers, though the top three made up about 70% of the company's sales last year.</p><p>Because Astera Labs sells to larger hyperscaler customers, its revenue is naturally concentrated, according to Mohan, but he noted that the company sells multiple products to those customers. Meanwhile, it's perhaps "less known" that the company sells to original equipment manufacturers, he added.</p><p>Mohan, Gajendra and Casey Morrison launched the business in a garage, and the three of them continue to hold operational roles at Astera Labs, with Morrison serving as chief product officer.</p><p>He flagged the diversity of the company's product offerings, which include Aries for extending connectivity between processors, Taurus for extending servers and switches over ethernet and Leo for expanding memory access.</p><p>Chip stocks have gotten a nice boost recently, with the PHLX Semiconductor Index SOX up about 51% over the past 12 months.</p><p>Gajendra said the company opted to go public now because AI is "everywhere," and Astera Labs has big aims. It aspires to be "the next big leader in AI and computing," he said.</p><p>The company will use its IPO proceeds in part to accelerate development and grow its staff.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2421770123","content_text":"Astera Labs got a warm reception in its Wall Street debut Wednesday, giving investors yet another hot chip play to consider.The first trade of Astera Labs' stock $(ALAB)$ was at 12:39 p.m. Eastern for 2.6 million shares at $52.56, or 46% above its $36 initial-public-offering price. Shares ended the day at $62.03, up 72% from the IPO price.With about 152.5 million shares outstanding after the IPO, the opening price implies a market capitalization for Astera of about $9.6 billionThe connectivity-focused semiconductor company, which raised $713 million in its IPO, debuted on the Nasdaq under the ticker symbol \"ALAB.\"Astera Labs plays into the artificial-intelligence craze through its work in chip connectivity. There's been a proliferation of AI chips recently, but Astera Labs says customers won't be able to get the most out of them without technology that helps AI chips connect and communicate with other aspects of a data center.\"Processors do a phenomenal job with computational functions,\" President Sanjay Gajendra told MarketWatch, but Astera Labs' products help them interconnect.Chief Executive Jitendra Mohan said that the AI work processors are trying to do in data centers is akin to a marathon run at sprint speed, which can be tiring. Astera Labs' technology tries to convert that marathon into a relay race, he said, with processors sending signals to Astera Labs products that enable data-center components to talk with one another.The company remains unprofitable, though its $26.3 million net loss during 2023 was about half of the $58.3 million loss that the company logged a year before. Revenue for 2023 rose to $115.8 million from $79.9 million.The company has been reducing its revenue concentration from its largest customers, though the top three made up about 70% of the company's sales last year.Because Astera Labs sells to larger hyperscaler customers, its revenue is naturally concentrated, according to Mohan, but he noted that the company sells multiple products to those customers. Meanwhile, it's perhaps \"less known\" that the company sells to original equipment manufacturers, he added.Mohan, Gajendra and Casey Morrison launched the business in a garage, and the three of them continue to hold operational roles at Astera Labs, with Morrison serving as chief product officer.He flagged the diversity of the company's product offerings, which include Aries for extending connectivity between processors, Taurus for extending servers and switches over ethernet and Leo for expanding memory access.Chip stocks have gotten a nice boost recently, with the PHLX Semiconductor Index SOX up about 51% over the past 12 months.Gajendra said the company opted to go public now because AI is \"everywhere,\" and Astera Labs has big aims. It aspires to be \"the next big leader in AI and computing,\" he said.The company will use its IPO proceeds in part to accelerate development and grow its staff.","news_type":1},"isVote":1,"tweetType":1,"viewCount":62,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}
