Astera Labs Stock Soars Following Robust Q3 Earnings

The Nvidia supplier reports significant revenue growth driven by demand for AI connectivity products.

Astera Labs reported Q3 revenue of $113.1 million, marking a 47% increase from the previous quarter and a 206% rise year-over-year.
Despite a net loss of $7.6 million, the company's stock surged by over 30% due to strong earnings and revenue forecasts.
The company anticipates Q4 revenue between $126 million and $130 million, with expected earnings per share ranging from 4 to 6 cents.
Astera Labs' products, including new Scorpio Fabric Switches, are critical for AI infrastructure, serving major clients like Nvidia, AMD, and Intel.
Analysts have raised their price targets for Astera Labs, highlighting its leadership in high-speed connectivity for AI data centers.