Two weeks after it was first reported Astera Labs could go public, the data center connectivity start-up has filed for an IPO on the Nasdaq stock exchange.
In the filing, Astera said it had shipped millions of devices to “all major hyperscalers and AI platform providers” and stated that by 2027, the company believes its total addressable market will grow to $27.4 billion.
In 2023, Astera generated $115.8 million in revenue, a 45 percent year-over-year increase, whilst also cutting its annual loss from $58.3m to $26.3m.
Santa Clara-based Astera was founded in 2017 by former executives from semiconductor company Texas Instruments. It designs solutions that connect chips and other parts of a server, allowing data to move around at high speeds.
After a $150m Series D funding round in 2022, Astera was valued at $3.15bn. However, according to a report in The Information earlier this month, the company was hoping a public offering would see the company’s valuation increase to $4bn.
