Astera Labs stock is a hot topic on Tuesday as investors prepare for ALAB shares to start trading on March 20.
Astera Labs is preparing for its initial public offering (IPO) tomorrow with an upsized plan. This comes as investors’ excitement has encouraged the company to expand the scope of its IPO.
This will have the semiconductor connectivity company with artificial intelligence (AI) and cloud applications selling 19.8 million shares. For comparison, its prior offering plan was for 17.8 million shares.
ALAB Stock IPO Pricing
The pricing of the IPO for ALAB stock isn’t set in stone yet. However, the company has said that it intends to price its shares between $32 per share and $34. The previous plan was to sell shares for $27 to $30 each.
If all goes well with this offering, Astera Labs could raise as much as $673.2 million. This would also give the company a market capitalization of $5.18 billion.
It’s worth mentioning that Astera Labs is choosing to go public at a time when AI stocks are hot. This comes as Nvidia (NASDAQ:NVDA) has continued to rally the market with its strong growth amid demand for AI.
Astera Labs could benefit from this with rallies of ALAB stock after going public. That could even happen this week, as its IPO takes place at the same time as Nvidia’s GPU Technology Conference (GTC).
Investors searching for more of the most recent stock market stories will want to stick around!
We have all of the hottest stock market news that traders need to know about on Tuesday! Among that is what has shares of Zoomcar (NASDAQ:ZCAR), JOYY (NASDAQ:YY) and Tencent Music Entertainment (NYSE:TME) stock moving today. All of that information is ready to go at the following links!
More Stock Market News for Tuesday
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
