Get the latest tech news
Astera Labs’ IPO pops 72% on first day, showing that investor demand for tech with an AI twist is high
Astera Labs is the first venture-backed IPO of 2024 and so far it seems investor demand could match 2021 levels.
Reddit, the well-known social forum and AI data provider, is expected to price after the close of trading today and begin its own public saga tomorrow. But they’re certainly I think, benefiting from that trend,” said Nick Einhorn, vice president of research at Renaissance Capital, a company that tracks the IPO market and offers public-offering focused ETFs. Astera Lab on the other hand, founded in 2017, has raised $206 million in venture capital, and was last valued at $3.1 billion which makes it a better comp for the other names people are keeping an eye on including Databricks, Stripe and Plaid.
Or read this on TechCrunch
