Astera Labs

Sources - 20

Every claim above cites one of these, or states the reasoning that derived it. The quote is frozen at the date it was read: a link can rot, and an agent fetch returns a reading of a page rather than the page. Backs counts the whole claim ledger, so it can name a claim this page does not surface.

1. S01primarycompany filing2026-02-20
   Astera Labs FY2025 Form 10-K (year ended 31 December 2025)
   the product families and COSMOS; the named competitor list; the customer and geographic concentration tables with the billing-address basis; the single-foundry supply note; the Amazon warrant history in Note 10; stock-based compensation of $160.0M; R&D of $304.0M; headcount of 756; the aiXscale acquisition and the February 2026 asset purchase
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2. S02primarycompany filing2026-08-05
   Astera Labs Q2 2026 Form 10-Q (quarter ended 30 June 2026)
   the income statement, balance sheet and cash flow for the quarter and half; the income tax note and the valuation allowance reasoning; the Q2 2026 customer and receivable concentration tables with the manufacturing-partner caveat; the 2026 warrant terms and its $280.0M maximum fair value; warrants contra revenue; the single reportable segment
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3. S03primarycompany release2026-08-04
   Astera Labs Q2 2026 results release, Exhibit 99.1 to the 8-K of 4 August 2026
   the Q3 2026 GAAP and non-GAAP guidance including revenue, gross margin, operating expenses, tax rate, per-share range and diluted share count; the GAAP to non-GAAP reconciliation; the balance sheet and cash flow statements; the risk list naming the absence of long-term commitments from customers
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4. S04primarytranscript2026-08-04
   Astera Labs Q2 2026 earnings call transcript
   PCIe 6.0 above 50% of revenue against a third in Q1; content per accelerator above $1,000 for Scorpio X; more than ten customers engaged on Scorpio X; the 70% long-term gross margin target; the $20B merchant scale-up switching figure and the $4B Taurus figure; the optical roadmap dates; the statement that China stays single digits as a share of revenue; COSMOS in the orchestration path. Twenty-four analyst turns from twelve analysts - the questions are a separate origin from the answers, and none of them asked who else could supply the fabric
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5. S05primarycompany release2026-02-10
   Astera Labs FY2025 results release, Exhibit 99.1 to the 8-K of 10 February 2026
   the full-year 2025 GAAP and non-GAAP results; the Q1 2026 guidance of $286M to $297M at about 74% gross margin, which is the guide the February repricing turned on; the $20B by 2030 merchant scale-up switching estimate; the Leo CXL deployment in Microsoft Azure M-series virtual machines; the Israel design centre
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6. S06secondaryvendor data2026-09-16
   Research pack for ALAB, frozen at content/ALAB/research-pack.json

   content/ALAB/research-pack.json
   the last close, market capitalisation, 20-day range and 252-day levels; the price move decomposition over 252 and 126 sessions; the analyst rating series and price target drift; short interest from FINRA; the earnings history with filed GAAP per-share figures beside adjusted ones; theme co-movement; the filed competitor cohort multiples; the geographic split re-keyed from the filer's XBRL; headcount and revenue per employee
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7. S07primaryindustry data2026-09-16
   Optical Internetworking Forum - Common Electrical I/O 224G project definitions OIF
   the reach limit that makes the retimer socket exist, stated by the body writing the interface rather than by anybody selling into it

   Common Electrical I/O - 224G-MR This project will develop and produce an implementation agreement for a Medium Reach electrical interface operating @144 to 232Gbps signaling over up to 500 mm of PCB and up to one connector. Common Electrical I/O - 224G-LR This project will develop and produce an implementation agreement for a Long Reach electrical backplane interface operating @144 to 232 Gbps signaling over up to 1000 mm of backplane and up to two connectors.

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8. S08primaryindustry data2026-09-16
   UALink Consortium - Specifications page UALink Consortium
   the size of a scale-up domain as a standards body defines it, which bounds how many accelerators one merchant fabric can address

   The UALink 1.0 Specification enables 200G per lane scale-up connection for up to 1,024 accelerators within an AI computing pod, delivering the open standard interconnect for next-generation AI cluster performance.

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9. S09primaryother2026-09-16
   NVIDIA - GB300 NVL72 product page and specification table NVIDIA
   that the largest accelerator vendor supplies the scale-up fabric inside its own rack, in its own words - the exclusion the prize turns on

   NVIDIA Mission Control powers every aspect of NVIDIA GB300 NVL72 AI factory operations, from orchestrating workloads across the 72-GPU NVLink domain to integration with facilities.

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10. S10primarycompany release2025-05-18
    NVIDIA press release - NVLink Fusion for semi-custom AI infrastructure NVIDIA
    the route by which Astera silicon enters an NVIDIA rack at all, named by NVIDIA rather than by Astera - both the threat and the company's answer to it

    MediaTek, Marvell, Alchip Technologies, Astera Labs, Synopsys and Cadence are among the first to adopt NVLink Fusion, enabling custom silicon scale-up to meet the requirements of demanding workloads for model training and agentic AI inference.

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11. S11primaryother2026-09-16
    Amazon Web Services - AWS Trainium product page Amazon Web Services
    that the concentrated buyer builds the scale-up switch itself - the customer_can_build evidence, published by the party with no incentive to flatter a supplier

    Trainium3 Next Generation UltraServers scale up to 144 Trainium chips, with NeuronSwitch providing an all-to-all fabric that doubles interchip interconnect bandwidth over Trainium2 UltraServers.

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12. S12primaryindustry data2024-07-31
    Meta AI - The Llama 3 Herd of Models, section 3.3.4 and Table 5 Meta
    what interconnect failure costs the buyer, counted by the buyer: 419 unexpected interruptions in 54 days on 16,384 GPUs, 35 of them network switch or cable

    Llama 3 405B is trained on up to 16K H100 GPUs, each running at 700W TDP with 80GB HBM3 … the synchronous nature of training makes it less fault-tolerant-a single GPU failure may require a restart of the entire job … During a 54-day snapshot period of pre-training, we experienced a total of 466 job interruptions. Of these, 47 were planned interruptions … The remaining 419 were unexpected interruptions, which are classified in Table 5 … Network Switch/Cable Network 35 8.4%

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13. S13primarycompany filing2026-06-15
    Credo Technology Group Holding Ltd FY2026 Form 10-K, Item 1 Competition CRDO
    a direct rival naming Astera Labs as one of only three principal competitors, and its own description of selling the same products to hyperscalers, neoclouds, OEMs, ODMs and contract manufacturers
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14. S14primarycompany filing2026-07-31
    Amazon.com, Inc. Form 10-Q for the quarter ended 30 June 2026 AMZN
    purchases of property and equipment of $173.03B over the trailing twelve months against $107.66B a year earlier - a filed base for the build-out, from the customer that holds Astera's warrants
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15. S15primarycompany filing2026-05-21
    Microchip Technology FY2026 Form 10-K, Item 1 and risk factors MCHP
    a named competitor's own description of shipping PCIe Gen 3 to Gen 6 switches and retimers, and CXL and PCIe memory controllers - all three of Astera's product jobs, from the rival's side
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16. S16primarycompany filing2026-09-16
    Astera Labs insider Forms 4, read for the Rule 10b5-1 flag (scripts/insider_fetch.py)
    508 open-market sales and no open-market purchases; the plan flag on each, putting 77.4% of shares sold under a plan adopted earlier; and the four quarterly discretionary blocks of 90,000 to 95,000 shares by each co-founder, which the aggregate could not show
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17. S17primaryvendor data2026-09-16
    Daily closing price series for ALAB (FMP historical-price-eod)

    data/cache/fmp
    the session-by-session reaction to each of the last four prints, which is what the prior-repricing search needed and what the pack's news reaction block only carries for recent items
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18. S18primarycompany filing2026-03-11
    Marvell Technology FY2026 Form 10-K, Item 1 Competition MRVL
    Marvell naming Astera Labs inside a twenty-four-name competitor list, and its own self-description as a fabless data-infrastructure supplier whose data centre end market is 74% of revenue
    read, but no claim rests on it
19. S19primarycompany filing2026-04-23
    Astera Labs proxy statement (DEF 14A), filed 23 April 2026, for the 4 June 2026 meeting
    beneficial ownership as of 1 March 2026; the directors' and officers' biographies and tenure; the CD&A: the 2025 bonus metrics, weights and payout, the time-based RSU design, the co-founders' 2024 pre-IPO grants and the plan to add PSUs from 2026; the outstanding equity awards table
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20. S20primarycompany filing2026-02-10
    Astera Labs Form 8-K of 10 February 2026, Item 5.02: chief financial officer retirement and appointment
    Michael Tate's retirement as chief financial officer effective 2 March 2026 and his advisory role to 1 September 2026; Desmond Lynch's appointment and his offer letter, including a PSU award vesting on performance milestones set by the board
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