March 8 (Reuters) - Astera Labs said on Friday it was

eyeing a valuation of up to $4.51 billion in its U.S. initial

public offering, as the chip firm looks to list amid a wave of

enthusiasm for artificial intelligence.

The company said it, along with some of its existing

shareholders, is aiming to raise up to $534 million by selling

17.8 million shares priced between $27 and $30 each.

Astera is offering nearly 14.8 million shares in the

offering, while the selling stockholders are offering about 3

million shares.

The listing comes at a time when technology firms have

rallied amid growing popularity for AI, driving the stock market

to record highs.

Social media platform Reddit has also lined up its highly

anticipated U.S. stock market debut this month.

Astera will list its shares on the Nasdaq Global Select

Market under the ticker symbol "ALAB".

Morgan Stanley and J.P. Morgan Securities are the lead

underwriters for the offering.