Intel-Backed Astera Seeks $534 Million in IPO Amid AI Frenzy
Mar 08, 2024 - bloomberg.com
Astera Labs Inc., a semiconductor connectivity firm backed by Intel Corp., is planning to raise up to $534 million through an initial public offering (IPO). The company, based in Santa Clara, California, is selling 14.79 million shares, while existing investors are offering an additional 3.01 million shares.
The shares are being offered at a price range of $27 to $30 per share, according to a regulatory filing. The move is seen as an attempt by Astera to capitalize on investor interest in artificial intelligence ventures.
Key takeaways:
Astera Labs Inc. is planning to raise up to $534 million in an initial public offering.
The company is backed by Intel Corp. and operates in the semiconductor connectivity industry.
Astera is selling 14.79 million shares, and existing investors are offering an additional 3.01 million shares.
The stock is being offered at $27 to $30 a share, according to a regulatory filing.
