Arm Says AI Boom Just Beginning After Record-Setting Rally
- Stock hits new highs following surprisingly strong forecast
- AI is ‘most profound opportunity in our lifetimes,’ Haas says
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Arm Holdings Plc shares surged 48% on Thursday after artificial intelligence spending helped bolster the chip designer’s forecast. And the company’s chief executive officer said the remarkable opportunity presented by AI is still in its early stages.
“AI is not in any way, shape or form a hype cycle,” Rene Haas said in an interview on Bloomberg Television. “We believe that AI is the most profound opportunity in our lifetimes, and we’re only at the beginning.”