Astera Labs Hits Record High Ahead of Next Week
Astera Labs finished the week on a high, with shares up 3.04% Friday to close at a record $306.88. That’s a gain of roughly 32% from last Friday. The U.S. stock market is closed for the weekend and for Memorial Day on Monday, May 25, so Nasdaq stocks, including Astera, won’t trade until Tuesday. Astera’s move drew attention this time because last week’s rally wasn’t only about AI. Investors started pricing Astera as a bigger play on the data-center “fabric” trade, which covers the high-speed connections that tie together processors, memory, and networking chips inside AI server racks.