Astera Labs (ALAB) Gets Street-High Price Target as Citi Sees Major AI Upside

Core Viewpoint - Astera Labs, Inc. (NASDAQ:ALAB) is highlighted as a significant AI stock following a $275 price target set by Citi, which also reiterated a "Buy" recommendation, anticipating growth due to a major AI infrastructure deal between AMD and OpenAI [1][3]. Company Overview - Astera Labs specializes in designing, manufacturing, and selling semiconductor-based connectivity solutions for cloud and AI infrastructure [4]. - The company provides essential hardware and software for AI and cloud applications, specifically supplying critical networking infrastructure for AMD's Helios platform, expected to launch in 2026 [2]. Strategic Partnerships and Market Position - ALAB's collaboration with AMD positions it to benefit from OpenAI's agreement to deploy up to 6 gigawatts of AMD Instinct GPUs, enhancing its market presence [3]. - The company is recognized as a leader in open AI networking ecosystems, which could lead to significant revenue, with projections of $1,000 per accelerator as open rack-scale systems gain wider adoption [3].