Astera Labs, a company specializing in chip-based products for cloud and AI connectivity, has filed for an estimated $500 million IPO under the ticker $ATRL.RC. The company, which experienced a significant revenue increase of 44.9% in 2023 to $115.8 million, reported a net loss of $26.3 million for the same year, an improvement from a $58.3 million loss the previous year. Astera Labs was valued at over $3 billion following a late-stage funding round in 2022. The IPO filing comes at a time when there is a notable enthusiasm for AI stocks and a broader rally in the semiconductor space, indicating a strategic timing for going public with the $IPO hashtag.