Arm’s stock price surged by 48% last night after the company reported better-than-expected quarterly results and performance. In addition, Arm’s business value increased to a staggering $38 billion, thanks to the rise in stock prices. The primary beneficiary of this growth is SoftBank, which holds a 90% stake in Arm.
According to Arm’s financial report, there is currently a high demand for Arm’s technology in AI applications, spanning from cloud services to user devices at the edge.
TL;DR: Arm’s stock price and business value experienced significant growth following the company’s strong quarterly performance. The demand for Arm’s technology in AI applications is driving this upward trend.
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