On July 21, Astera Labs rose 5% in pre-market trading, trading at $324.1/share, with turnover of $1.94 million.

On the news front, Korean media reported that Samsung Electronics, SK Hynix, and Micron have all abandoned commercialization of first-party CXL memory controllers. Downstream data center customers prefer a disaggregated procurement model, purchasing DIMM memory modules and CXL controllers separately rather than integrated solutions. This structural shift accelerates the transfer of CXL controller design leadership toward independent chip design companies including Astera Labs. Notably, Micron has terminated its CXL memory module controller R&D and pivoted to third-party solutions, while SK Hynix has reassigned personnel to PIM development.

Separately, Barclays raised its target price on Astera Labs from $200 to $325, citing sustained demand growth in high-speed interconnect chips driven by AI compute expansion. The broader semiconductor sector showed strength, with SK Hynix up 6.51%, Micron up 5.95%, Intel up 5.0%, and AMD up 4.03%.

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