Reported about 22 hours ago
Arm Holdings reported a fiscal third-quarter forecast beating Wall Street expectations, fueled by the growth in artificial intelligence computing. Their revenue forecast of $1.23 billion surpassed the analyst average of $1.1 billion. Following the announcement, Arm's shares initially rose by 5%, later settling at a 3% increase. The company also highlighted significant growth in AI-related products and plans for developing its own chips, moving away from solely supplying intellectual property.
Source: YAHOO