Arm stock prices surged by 48% last night after the company reported strong quarterly results and better-than-expected performance in the current quarter. The value of Arm’s business increased to $38 billion as stock prices soared. The main beneficiary of this surge is SoftBank, which holds a 90% stake in Arm.
In its quarterly report, Arm explained that there is currently a high demand for its technology, especially in the field of AI, across all levels from cloud to user devices.
TLDR: Arm stock prices skyrocketed by 48% following impressive quarterly results and strong performance in the current quarter. The company’s business value reached $38 billion, benefiting SoftBank, which holds a 90% stake. Arm attributes this success to the high demand for its technology, particularly in the realm of AI, spanning from cloud to edge devices.
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