Astera Labs reported Q1 2026 revenue of $308.4M, up 93% year-over-year, with a 76.3% GAAP gross margin. The Scorpio X-series Fabric Switch positions the company as the neutral connectivity layer in AI rack-scale architectures. Protocol neutrality, hyperscaler validation, and optical expansion create a defensible moat despite customer concentration risks.
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Applied Digital Stock Could Double by End of 2026