Astera Labs (ALAB) officially joins the Nasdaq-100 Index before the market opens on June 22, 2026. This inclusion ranks the AI connectivity chipmaker among the world's leading non-financial firms. Passive investment funds and ETFs tracking the index are expected to drive substantial demand for the shares.
The mid-June announcement propelled the stock to record highs as investors anticipated forced buying from index funds. The company reported a 93% year-over-year revenue increase during its first quarter. Some analysts have raised concerns about the stock's stretched valuation following the recent rally.