Posted 2/13/2024, 4:24:24 AM
Arm Holdings Soars to Near $100 Billion Valuation on AI and Smartphone Chip Demand
- Arm Holdings has seen its stock price double since its earnings report last week, valuing the UK chip designer at almost $100 billion
- The Cambridge-based firm designs chips that power most smartphones and are increasingly used for AI and self-driving cars
- Arm returned to the public market last September after being taken private by SoftBank in 2016 for $32 billion
- The AI chip boom has benefited Nvidia, now one of the world's most valuable companies, and is driving demand for Arm's technology
- The jump in Arm's shares is welcomed by SoftBank, which has struggled with some major investment losses though still holds a 90% stake in Arm