Astera Labs, a semiconductor connectivity company backed by Intel, has increased the size of its initial public offering (IPO) amid growing enthusiasm for artificial intelligence (AI). The firm has raised its price range from $27-$30 to $32-$34 per share and the number of shares from 17.8 million to 19.8 million, aiming for a valuation of up to $5.18 billion in its upsized U.S. IPO. The IPO's deal size has been boosted by 26% to 29%, with the company now planning to raise approximately $673 million. The ticker symbol for Astera Labs is $ALAB.