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AsteraLabs Beats Q1 Expectations with AI Infrastructure Investment: A Game Changer for the IPO Stock Market
Chipmaker Astera Labs (ALAB) beat expectations in the first quarter, with sales rising 269% year-over-year. The Santa Clara, Calif.-based company reported sales of $65.3 million and adjusted earnings per share of 10 cents, compared to analysts’ expectations of $56.7 million and 4 cents. This rise is due to the acceleration of AI infrastructure. Despite the satisfactory report, ALAB’s stock falls in extended trade.