Arm Jumps on Report That Meta Will Be First Client for New Chip
The headquarters of Arm Holdings Plc in Cambridge, UK.
Photographer: Jose Sarmento Matos/BloombergThis article is for subscribers only.
Arm Holdings Plc rose as much as 8.4% after the Financial Times reported that it landed Meta Platforms Inc. as an early customer for a new chip.
The chip is poised to be the first that Arm is selling under its own brand, and it should be unveiled as early as this summer, the Financial Times said, citing unidentified people familiar with the matter. The UK-based company made its name as a chip designer, licensing its technology to others instead of making its own products.