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Astera Labs

Aries retimers, Scorpio switches and Taurus cable modules

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Where it fits in an AI server rack

Sells Aries PCIe/CXL retimers, Scorpio P-Series PCIe 6 and X-Series scale-up fabric switches, and Aries and Taurus smart cable modules for active electrical cables; 2025 revenue was $852.5M. NVIDIA’s VP of hardware engineering said Scorpio P-Series integrates with the Blackwell-based MGX platform (Mar 18, 2025), and Astera joined the NVLink Fusion ecosystem (May 19, 2025).

What the evidence establishes

AI-rack evidence

Disclosed: Astera Labs’ 2025 10-K describes its products and customer concentration; its Mar 18, 2025 release carries an NVIDIA executive’s statement on Scorpio P-Series in MGX.

An explicit AI-server or AI-rack product, design-in, supply role, program, reference design or partnership, such as a part named for rack-scale AI systems or a product sold for AI data centers. For a rack builder, it means the company’s own AI servers or racks. This does not establish revenue, market share, volumes or future sourcing.

Component roleAries retimers, Scorpio switches and Taurus cable modules
EvidenceDisclosed: Astera Labs’ 2025 10-K describes its products and customer concentration; its Mar 18, 2025 release carries an NVIDIA executive’s statement on Scorpio P-Series in MGX.
How we knowDisclosed The company’s own filing, release, annual report, product page or investor record describes the AI-server or AI-rack role. Where customers are unnamed, the listing says so.
Primary sourceAstera Labs — supporting disclosure
Company or official disclosure; vendor claims are attributed to their source.
Checked. This is the research review date, not the source publication or quote time.

Keep in perspective

One end customer was more than 70% of 2025 revenue and the top three about 86%, all unnamed. The NVIDIA statement concerns the modular MGX platform, not a disclosed NVL72 socket.

Specialist business exposure. This describes the breadth or role of the business; it is not an investment rating. An AI-server product, design-in or partnership does not by itself establish material AI-rack revenue, market share, or future returns.

Connections to the assembly

These links explain the technology relationship. The model is illustrative and does not represent an actual manufacturer’s bill of materials.

Switch ASICs

Scale-up switch chips that connect every GPU in the rack to every other GPU at full bandwidth. Other designs use Ethernet switch chips for the same job.

Scope of the company links: Scale-up and fabric switch chips. NVIDIA’s NVLink Switch chips sit in the 1RU switch trays of GB200/GB300 NVL72 (NVIDIA OCP contribution, Oct 15, 2024), and its Spectrum-6 Ethernet ASIC runs 102.4 Tb/s. Broadcom sells Ethernet switching silicon to hyperscalers and to makers of AI servers, switches and racks (FY2025 10-K); Cisco’s Silicon One G300 (102.4 Tb/s) powers its own systems; Astera Labs’ Scorpio X-Series is a scale-up fabric switch for up to 80 accelerators; Marvell’s 10-K lists Teralynx Ethernet switches of up to 51.2 Tb/s. Celestica designs AMD Helios’s scale-up switch trays on other companies’ silicon and is listed under the top-of-rack switch, not here.

PCIe retimers & switches

Chips that recover and re-send high-speed PCIe or CXL signals over long board traces and cables, or fan one set of lanes out to many devices.

Scope of the company links: Astera Labs sells Aries retimers and Scorpio P-Series PCIe 6 switches, which an NVIDIA executive says integrate with Blackwell-based MGX (Mar 18, 2025). Marvell’s Alaska P PCIe 6 retimers were adopted by Supermicro, TE Connectivity and TeraHop (Dec 9, 2025). Credo’s Toucan Gen6 x16 retimer was PCI-SIG listed on Aug 31, 2026; Broadcom’s PCIe interconnect chips serve AI and non-AI uses (10-K); Microchip’s Switchtec Gen 6 switches are sampling; Montage calls itself one of the two major PCIe 5.0 retimer suppliers and says retimers are core components of AI servers (2025 results). No source says which retimer or switch a given NVL72 tray uses.

Active electrical cables

Copper cables with a retimer or DSP chip in each plug that cleans up the signal, extending copper’s reach to several metres at a fraction of the power of optics.

Scope of the company links: Copper cables with signal chips in the plugs, mostly for NIC-to-switch and switch-to-switch links. Credo sells complete ZeroFlap AECs to hyperscalers; Marvell’s Alaska A 1.6T AEC DSP names Amphenol, Molex and TE as cable partners (Jun 27, 2024); Astera Labs sells Aries and Taurus smart cable modules for AECs; BizLink and Luxshare sell retimed active copper cables (Luxshare showed a 1.6T OSFP AEC at OCP 2025); Microchip sells the META-DX2C 800G AEC retimer. Semtech’s CopperEdge redrivers power linear active copper cables (ACCs), such as Amphenol’s 1.6T OSFP ACC, a lower-power alternative to retimed AECs. No source ties a specific cable to NVL72. Montage launched PCIe 6.x and CXL 3.x AEC solutions in January 2026.

Related research

Companies with overlapping sector exposure. Their products and evidence may differ; this is not a list of equivalent investments.

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