On May 26, Astera Labs rose 3.3% in pre-market trading, trading at $318.025/share, with trading volume of approximately $1.898 million. The stock continued its multi-day rally that began following the company's blowout first-quarter earnings report and aggressive second-quarter guidance.

Astera Labs reported Q1 revenue of $308.4 million, up 14% sequentially and 93% year-over-year, driven by strong demand for its PCIe 6 product portfolio. Non-GAAP net income reached $110.1 million, with gross margins maintained above 76%. The company guided Q2 revenue of $355-365 million with non-GAAP EPS of $0.68-0.70, at least 16% above Wall Street consensus, reinforcing its position as a core supplier of AI connectivity solutions to hyperscale cloud providers. RBC maintained its Outperform rating and raised its target price to $250, citing expected benefits from Amazon Trainium3 deployment. The stock has accumulated gains of over 62% year-to-date as investors increasingly recognize the company's role in AI infrastructure interconnect.

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