Astera Labs Inc. shares jumped as much as 76% in their trading debut after the semiconductor connectivity company’s initial public offering topped expectations to raise $713 million, as investors pile into AI-related stocks.
The shares climbed 68% to $60.58 at 3:18 p.m. Wednesday in New York. The Santa Clara, California-based company and its investors priced the shares Tuesday at $36 apiece, above a marketed range that had already been elevated.
The trading gives Astera, whose backers include Intel Corp. along with Sutter Hill Ventures, a market value of $9.24 billion. Including stock options and restricted share units, Astera has ...
