Arm’s soaring stock price and robust growth forecast are being fueled by AI demand and strategic expansions.
Leading United Kingdom-based tech company Arm saw its stock surge over 30% on Wednesday, Feb. 7, after the company said it expected profits and sales before earnings for the current quarter to beat market expectations by a large margin.
The company, best known for designing cutting-edge chips, cited growing demand for its artificial intelligence (AI)-based technology, according to the Financial Times. As a key supplier of chip blueprints to semiconductor industry competitors, Arm has become a success story in technology. Its technology is becoming increasingly common in chips used for AI applications.
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Source: https://cointelegraph.com/news/arm-stock-surges-ai-chip-demand-ignites