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Astera Labs Inc. (NASDAQ:ALAB) shares climbed 5.58% to $170.57 in Wednesday's pre-market trading following news of a new partnership with Arm Holdings plc (NASDAQ:ARM).
Check out the current price of ALAB stock here.
The California-based company joined Arm’s Total Design ecosystem on Tuesday to speed up custom system-on-chip development using Arm's Neoverse Compute Subsystems.
The partnership combines Astera's Intelligent Connectivity Platform with Arm's tech to deliver chiplet-based solutions for AI infrastructure.
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Astera faces competition from Nvidia Corp. (NASDAQ:NVDA), NVLink and Broadcom Inc. (NASDAQ:AVGO) switches in the AI connectivity market.
Astera is up 21.97% so far in 2025 but has dropped 30.15% over the past month. It has traded between $47.13 and $262.90 over the past year, with a market capitalization of $26.85 billion, an average daily volume of 6.38 million shares, and a price-to-earnings (P/E) ratio of 282.35.
Price Action: According to Benzinga Pro data, the diagnostic network closed Tuesday’s regular session down 19.03% at $161.55.
Benzinga’s Edge Stock Rankings indicate that ALAB is experiencing short-term consolidation along with medium and long-term upward movement. Know how its momentum lines up with other well-known names.
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Photo courtesy: Piotr Swat via Shutterstock
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
