Chief executive, Rene Haas, says UK-based firm is benefiting from huge demand for AI-powered products and apps
Shares in Arm have soared by more than 50% after raising profit and revenue forecasts amid red-hot demand for artificial intelligence technology, valuing the UK-based tech company at double the market capitalisation when it floated in September.
Shares in the world’s biggest supplier of design elements for processing chips used in products from smartphones to games consoles opened up 58% on the Nasdaq in the US on Thursday.
About Author
More Stories
Bodies recovered from illegal goldmine in South Africa where many feared dead
Boeing production in 2024 expected to be less than half of rival Airbus
Apple asks investors to block proposal to scrap diversity programmes