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MRVL - Astera Labs Stock Soars On First Trading Day: Is It A Buy?
Marvell Technology Inc.
2024-03-20 22:20:42 ET
Summary
Astera Labs, a new IPO, saw its shares soar on its first trading day, driven by the ongoing AI hype.
The company, which sells semiconductor connectivity solutions to major data center companies, raised $700 million in its IPO.
While Astera Labs operates in an attractive growth market, its high valuation, lack of profitability, and competition from larger players make ALAB less attractive compared to companies like Nvidia.