Amazon gets boost from 72% pop in AI company Astera Labs' IPO
Publishing timestamp: 2024-03-20 16:46:24
Summary
Astera Labs made its debut on Nasdaq, with Amazon set to benefit from the IPO. Astera's shares jumped 72% on Wednesday, with a market cap of close to $9.5 billion. Amazon has warrant agreements to buy shares of Astera, showing confidence in the company's AI-focused products. Astera's IPO reflects Wall Street's interest in AI, with the tech market eagerly awaiting other upcoming IPOs.
Sentiment: POSITIVE
Tickers: INTC, TXN, NVDA, AMD, ARM, UNDEFINED, AMZN, ALAB,
Keywords: amazon.com inc, arm holdings plc, nvidia corp, intel corp, advanced micro devices inc, technology, astera labs inc, business news, instacart (maplebear inc), texas instruments inc, internet, klaviyo inc, breaking news: technology,