AI Data Center Startup Astera Labs Plans March IPO

A little-known startup that sells crucial data center components to customers like Amazon Web Services and Microsoft is aiming to become one of the first firms to go public off the back of the boom in generative artificial intelligence.

Astera Labs, backed by Sutter Hill Ventures and Intel, has been meeting with prospective investors ahead of a potential March initial public offering led by Morgan Stanley and JPMorgan Chase, people familiar with the matter said. It may make its IPO prospectus public as soon as this month, one of the people said. Astera was valued at $3.15 billion in 2022. It could be as high as $4 billion now based on the valuation of a comparable public company, Credo Technology.