Chipmaker Astera Labs valued at over $3 billion after latest fundraise
(Reuters) - Chipmaker Astera Labs said on Thursday it was valued at $3.15 billion following a late-stage funding round led by Fidelity Management & Research, signaling investors' bullishness on the semiconductor sector.
The company raised $150 million in the latest round amid upbeat long-term outlook for chips, especially as growth in artificial intelligence, Internet of Things and machine learning segments booms.
Berkshire Hathaway, which typically stays away from big technology wagers, said earlier this week it had bought more than $4.1 billion in TSMC stock.
Astera Labs has expanded its board of directors, added new product lines to its portfolio, increased its workforce and also added two new research and design centers in Vancouver and Toronto this year.
The California-based company provides data and memory connectivity solutions and counts tech giants such as Intel, Taiwan Semiconductor Manufacturing Co Ltd (TSMC), and Amazon.com's AWS among its partners.
Existing investors, including Atreides Management, Intel Capital and Sutter Hill Ventures also participated in the funding round.
(Reporting by Mehnaz Yasmin in Bengaluru; Editing by Vinay Dwivedi)
