Astera Labs (NASDAQ: ALAB) is posting big gains Thursday. The connectivity-semiconductor company's share price was up 10.8% as of 2:45 p.m. ET, according to data from S&P Global Market Intelligence.

While there isn't any business-specific news pushing Astera stock higher today, the company's valuation is getting a boost from Nvidia's (NASDAQ: NVDA) recent quarterly report. The graphics processing unit (GPU) leader reported better-than-expected Q2 results and forward guidance yesterday, and the results have helped to power gains for many other AI stocks today. But the results actually haven't been enough to spur gains for Nvidia, and the AI leader's share price is down 4.5% in the daily session, as of this writing.

AI-driven demand helped Nvidia's data-center segment revenue increase 154% year over year and reach $26.3 billion in the second quarter of the company's fiscal year, which ended July 28. The performance helped push overall revenue reach roughly $30 billion, up 122% year over year. With margins proving quite resilient, non-GAAP (generally accepted accounting principles) adjusted earnings per share rose 152% compared to the prior-year period.

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Source Fool.com