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Nvidia Supplier Astera Labs Surges on Strong Q3 Results
ALABAstera Labs, Inc.(ALAB) Investopedia·2024-11-05 15:46

KEY TAKEAWAYSAstera Labs shares are jumping around 30% Tuesday morning, after the Nvidia supplier reported strong third-quarter earnings results on the back of demand for its artificial intelligence (AI) products.The company reported quarterly revenue of 113.1million,up47113.1 million, up 47% from the prior quarter and 206% year-over-year, while showing a net loss of 7.6 million, or 5 cents a share.Astera Labs makes chip-based connectivity products to boost the efficiency of AI. Astera Labs (ALAB) shares are jumping aroun ...