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Arm’s CEO Says the Chip Designer Is Even More Confident in Hitting $2B AI Chip Sales Target. The Stock Is Rallying
With Thursday’s gains, Arm shares are up some 140% since the start of the year.Credit: Long W Getty ImagesKey TakeawaysArm Holdings’ stock is up 8% Thursday after its CEO expressed increased confidence in hitting a $2 billion AI chip sales target.Arm’s stock has gained 140% this year but remains down over 40% from its June peak.Bullish comments from Arm Holdings’ chief executive last night are helping its stock rank among the Nasdaq’s top gainers today.Arm’s (ARM) U.S.-listed shares are up 8% as tech stocks rally Thursday, a day after CEO Rene Haas told CNBC’s Jim Cramer that the firm is even…
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