On July 23, Astera Labs, Inc. rose 3.08% overnight, trading at $341.09/share, with turnover of $851,300.

On the news front, multiple catalysts continue to underpin the stock. Korean media reported that Samsung Electronics, SK Hynix, and Micron have all abandoned commercialization of first-party CXL memory controllers, as downstream data center customers prefer a disaggregated procurement model. This shift accelerates the transfer of CXL controller design leadership toward independent chip design companies, with Astera Labs positioned as a direct beneficiary as a leading third-party fabless provider.

Additionally, the company recently expanded its Taurus product family with the industry's first OCP-standard footprint compatible 3.2T Smart Retimers and Smart Redrivers, further strengthening its high-speed connectivity portfolio. Barclays also raised its target price on Astera Labs from $200 to $325, citing confidence in sustained demand growth for high-speed interconnect chips driven by AI computing expansion.

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