"Astera Labs Rides AI Enthusiasm with Expanded IPO Amid Tech Stock Rally"

Astera Labs, a semiconductor connectivity company backed by Intel, has increased the size of its planned IPO by 26% amid growing investor interest in artificial intelligence. The company and its investors plan to sell 19.8 million shares at $32 to $34 each, potentially raising as much as $673.2 million. Founded in 2017, Astera develops semiconductor-based connectivity solutions aimed at enabling the mainstreaming of AI and machine learning in the cloud. The move comes as AI-related stocks, including Nvidia Corp., have seen significant gains, contributing to record highs in stock indexes.