Amazon's AI Investment Pays Off as $ALAB Astera Labs Soars 72% in IPO

👉 Key Highlights:
📍 Astera Labs' IPO surges 72%, closing at $62.03 with a near $9.5 billion market cap.
📍 Amazon benefits from the surge, with shares and warrants worth almost $144 million.
📍 Astera, a data center chip maker, serves major clients like Nvidia, AMD, and Intel.
📍 2022 agreement between Astera and Amazon includes purchase of up to $650 million in products.
📍 Astera's 2021 revenue hit $115.8 million, up from $79.9 million in the previous year.
📍 Products Amazon agreed to purchase aim to address AI infrastructure bottlenecks.
📍 Tech IPO market shows signs of revival, with Reddit's NYSE debut anticipated.