Hello and welcome back to Equity, the Tech Ranch Podcast, where we unpack the numbers and the

nuance behind the headlines.

This is Alex and today is March 20, 2024. Yeah, friends, we are nearly done with Q1.

Welcome to our Wednesday show where we dig into the critical startup and venture capital stories

from the week thus far. And today we have an absolutely

packed episode. I went way over my word count in the notes talk, but hey, when

things are cool, we got to talk about it. So on the show today we have Astera Labs IPO, Tiger I

coming out of stealth, Pocket FM's really neat mega round, how Inflection AI got

eaten by Microsoft, and then we'll close with some venture capital news that sounds bad but actually isn't as bad as it looks. Let's go.

Finally, some IPO news that we can sink our teeth into.

Astera Labs priced its IPO last night at $36 per share above its raised IPO price range and the news also comes after the

company announced it would sell 19.8 million shares in its debut while the previous

plan was 17.8 million.

So more shares higher price, that means a greater fundraise and also a larger starting valuation.

And while Reddit's IPO could do well from investors looking to buy into a well-known social media company that

also has an interesting burgeoning AI data business, AI Labs wants to be called an AI hardware story.

And no, it's not taking on NVIDIAia, the American Chip Giant that created the world's most

in-demand AI chip, not once, but twice.

So let's talk about what it's actually doing and to do that

let's back in by discussing its financials. Back in 2022, Astera posted just

under 80 million in revenues and a net loss of about $58 million.

Then last year, the company's revenue soared to just under $116 million, and its net loss fell to about 26.

...