Astera Labs (ALAB) stock jumps nearly 8% as chip rally kicks off 2026
NEW YORK, Jan 2, 2026, 21:00 ET — Market closed Shares of Astera Labs closed up 7.9% on Friday at $179.56, lifting the Nasdaq-listed semiconductor company at the start of the new year. The move tracked a broader rally in chip stocks that helped U.S. equities end mostly higher on the first trading day of 2026, after a four-session skid, according to Reuters. Reuters That matters now because investors are looking for fresh direction after late-December weakness, with economic data and the start of fourth-quarter earnings season poised to reset rate expectations and risk appetite. Reuters Astera Labs sells connectivity