Nvidia Supplier Astera Labs Surges on Strong Q3 Results

KEY TAKEAWAYSAstera Labs shares are jumping around 30% Tuesday morning, after the Nvidia supplier reported strong third-quarter earnings results on the back of demand for its artificial intelligence (AI) products.The company reported quarterly revenue of $113.1 million, up 47% from the prior quarter and 206% year-over-year, while showing a net loss of $7.6 million, or 5 cents a share.Astera Labs makes chip-based connectivity products to boost the efficiency of AI. Astera Labs (ALAB) shares are jumping aroun ...