Intel-Backed Astera Taps Morgan Stanley, JPMorgan for 2024 IPO

Astera Labs Inc., the semiconductor connectivity solutions firm backed by investors including Intel Corp.’s venture arm, is working with investment banks to prepare for an initial public offering that could come as soon as next year, according to people with knowledge of the matter.

The Santa Clara, California-based company has appointed Morgan Stanley and JPMorgan Chase & Co. as lead underwriters for the listing, said the people, who asked not to be identified discussing confidential information. The exact timing of a listing in 2024 hasn’t been finalized and Astera’s plans could still change.

A representative for Astera didn’t ...