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:Arm surged more than 30 per cent on Wednesday after the British tech company forecast quarterly sales and profit above Wall Street expectations as customers aim to design new chips for artificial intelligence work, generating higher royalties.The surge in Arm's stock lifted its market capitalization by abou
Arm shares surged more than 30 per cent after the British tech company forecast quarterly sales and profit above expectations as customers aim to design new chips for AI work, generating higher royalties.
Arm shares rose roughly 35% in after-hours trading after the forecast and results were released. The over 30% surge in Arm's stock after its report late on Wednesday lifted its market capitalization by about $26 billion.
ARM earnings call for the period ending December 31, 2023.
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