Home Tech  Summary Astera Labs is a big beneficiary of surging AI networking demand, driven by the Anthropic and Amazon partnership, but its valuation now reflects much of this upside. ALAB's revenue diversification and platform expansion, including co-packaged optics and NVLink exposure, position it for multiple future growth levers. Despite a 2-year 39% average forecasted earnings growth and strong margin uplift, ALAB trades at a bubbly 86x forward earnings, raising concerns about near-term upside versus peers like Marvell. I believe it's appropriate to downgrade ALAB to Hold, as current multiples demand significant earnings upgrades and the stock appears technically overbought near $200. Looking for a helping hand in the market? Members of Ultimate Growth Investing get exclusive ideas and guidance to navigate any climate. Learn More » Getty Images Astera Labs: AI Networking Plays Are Really On Fire Thanks to Anthropic AI networking stocks are completely ruling the roost now.…