Top 15 AI Stocks Taking Wall Street by Storm

12. Astera Labs, Inc. (NASDAQ:ALAB)

Number of Hedge Fund Holders: 45

Astera Labs, Inc. (NASDAQ:ALAB) is one of the Top 15 AI Stocks Taking Wall Street by Storm. On August 6, Evercore ISI analyst Mark Lipacis raised the price target on the stock to $215.00 (from $104.00) while maintaining an Outperform rating.

The rating affirmation follows Astera Lab’s blowout quarterly results, with Lipacis deeming the stock as an “AI pure play in [an] accelerating capex market.”

Analysts at the firm highlighted that ALAB is hitting its AI product cycle stride on three dimensions.

“We are Buyers of ALAB following its “Big Beat, Big Raise” quarter as we think it is hitting its AI product cycle stride on three dimensions: 1) Scorpio P Series ramp surprised positively in the Q for ALAB’s lead customer and mgmt announced multiple new designs which should ramp in 2026, 2) X Series addition will increase ALAB’s content per accelerator to >$1,000, and 3) customer interest in X Series and/or UALink is proving to be robust with 10+ unique customers engaged across the spectrum of design wins ramping into production, design-ins under qualification, and early engagement.”

With Cloud capital expenditure rapidly increasing, the firm believes ALAB is well-positioned to outperform expectations driven by its its multi-pronged product cycle.

Astera Labs, Inc. (NASDAQ:ALAB) is engaged in the design, manufacture, and selling of semiconductor-based connectivity solutions for cloud and AI infrastructure.