Astera Labs: Amazon discloses $134M stake as Q2 revenue doubles

Astera Labs reported record second-quarter revenue of $392.4 million, up 104% year over year, while non-GAAP earnings per share reached $0.80. Separately, Amazon disclosed that it bought 277,777 Astera Labs shares during Q2, worth approximately $134.2 million.

The disclosures came as Northland Securities upgraded Astera Labs to Outperform with a $350 price target. Company leadership also projected roughly 40% sequential revenue growth for the third quarter, reinforcing investor interest in its AI connectivity semiconductor business.

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