UK chip designer Arm Holdings has seen its stock market value almost double in less than a week as investors bet on the artificial intelligence (AI) boom.
The Cambridge-based company reported financial results last Wednesday that showed demand for AI-related technology is boosting its sales.
Chips designed by Arm already power almost every smartphone in the world.
Chips designed by Arm already power almost every smartphone in the world.
Arm’s shares have soared since its earnings announcement last week and are now up by more than 98%.
It comes as chipmaker Nvidia has seen its shares more than triple in value in the last year on soaring demand for its AI chips.
The AI boom has helped Nvidia become one of the most valuable publicly-traded companies in the world, with a stock market valuation of around $1.8 trillion (£1.4 trillion).
It has also made it the fifth publicly traded US company to join the so-called “Trillion-dollar club”, along with technology giants Apple, Microsoft, Alphabet and Amazon.
Arm’s technology is not directly used for AI work, but chip makers like Nvidia are choosing it for central processing units (CPUs) that complement their AI-specific chips.
UK chip designer Arm Holdings has seen its stock market value almost double in less than a week as investors bet on the artificial intelligence (AI) boom.
Chips designed by Arm already power almost every smartphone in the world.
The Cambridge-based company reported financial results last Wednesday that showed demand for AI-related technology is boosting its sales.
Arm’s shares have soared since its earnings announcement last week and are now up by more than 98%.
Chips designed by Arm already power almost every smartphone in the world.
Chips designed by Arm already power almost every smartphone in the world.
Arm’s shares have soared since its earnings announcement last week and are now up by more than 98%.
It comes as chipmaker Nvidia has seen its shares more than triple in value in the last year on soaring demand for its AI chips.
The AI boom has helped Nvidia become one of the most valuable publicly-traded companies in the world, with a stock market valuation of around $1.8 trillion (£1.4 trillion).
It has also made it the fifth publicly traded US company to join the so-called “Trillion-dollar club”, along with technology giants Apple, Microsoft, Alphabet and Amazon.
Arm’s technology is not directly used for AI work, but chip makers like Nvidia are choosing it for central processing units (CPUs) that complement their AI-specific chips.
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