On May 22, Astera Labs rose 3.63% in regular trading, trading at $312.165/share, with trading volume of approximately $246 million. The stock continued its multi-day rally that began following the company's blowout first-quarter earnings report and aggressive forward guidance.

On the news front, Astera Labs reported Q1 revenue of $308.4 million, up 93% year-over-year and 14% sequentially, driven by strong demand for its PCIe 6 product portfolio. Non-GAAP net income reached $110.1 million with gross margins above 76%. The company's Q2 revenue guidance of $355-365 million exceeded Wall Street consensus by at least 16%, reinforcing its position as a critical AI connectivity supplier to hyperscale cloud providers. Management noted that its chips, optics, and software are now integrated into nearly 90% of global AI compute servers and clusters, with its total addressable market in Scorpio and UALink/PCIe exceeding $20 billion. RBC maintained an Outperform rating and raised its price target to $250.

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