Arm Holdings, a chip designer, reported Q3 financial results surpassing expectations, driving a 40% stock surge due to increased market share in cloud-server and automotive sectors, and higher demand for AI chips.

Arm Holdings, a chip designer, reported better-than-expected third-quarter financial results, driving its stock to soar by over 40% in after-hours trading. The company's strong performance is attributed to increased market share in cloud-server and automotive sectors and higher demand for artificial intelligence-driven chips. Arm expects sales of $850 million to $900 million in the upcoming quarter, exceeding the average analyst estimate of $778 million.

February 07, 2024
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