Morgan Stanley: NVIDIA's alliance with Intel may impact Astera Labs
Morgan Stanley pointed out that the joint research and development agreement between Intel and NVIDIA could have a significant impact on Astera Labs, but the specific effects remain unclear. Analysts mentioned that if NVLink technology extends into the x86 domain, it could replace traditional PCIe interfaces, affecting Astera Labs' business. Although Astera Labs is a partner in NVLink Fusion technology, there is still room for participation in the future, but the details of the collaboration are unclear. The projects between Intel and NVIDIA will take several years to materialize, and the transformation in the semiconductor industry highlights the importance of chip interconnection technology
According to the Zhitong Finance APP, Morgan Stanley stated that the joint research and development agreement between Intel (INTC.US) and NVIDIA (NVDA.US) for PC and data center chips could have a significant impact on Astera Labs (ALAB.US), but it is currently unclear what the specific direction and extent of the impact will be.
Morgan Stanley analysts pointed out in a report to clients: "Although Intel was not mentioned in the first announcements of NVIDIA's NVLink Fusion technology earlier this year, we have always believed that this technology is part of NVIDIA's strategy to capture a larger share of the 'server x86 architecture CPU market.'
There is currently a concern in the market: if NVLink technology extends to the x86 field, it may replace the traditional PCIe interface connection between x86 architecture CPUs and NVIDIA GPUs—while Astera Labs' products contain a large number of PCIe-related technologies and components, this change could impact its business. However, at this stage, we should not draw definitive conclusions."
Although Astera Labs is listed as a partner in the NVLink Fusion technology, there may still be room for business participation in this technology ecosystem in the future, but the specific cooperation details are still unclear.
In addition, the collaboration project between Intel and NVIDIA is still several years away from actual implementation. However, Morgan Stanley analysts added that this "structural transformation" in the semiconductor industry "highlights the importance of 'chip interconnection technology' and the advantages of 'rack-level computing' models."
As of the time of publication, Astera Labs' stock price fell by 2.4% in pre-market trading on Friday
