The evidence sits in the closest listed proxy's own numbers: Astera Labs grew revenue 115% to $852 million in fiscal 2025, but over a third of its recent quarter came from PCIe Gen6 products, its fabric‑switch line is on track to become its largest, and management calls my CXL controller line ‘a small part of your business today,’ with analysts flagging it immaterial for 2026. A projected ~$16 billion “CXL market” by 2028 is split, with roughly $12.5 billion in DRAM behind me and $1.3‑3.7 billion for controller and switch silicon, according to third‑party estimates.
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