UK chip designer Arm sees shares almost double
By Mariko OiBusiness reporter
Getty ImagesArm returned to the stock market last SeptemberUK chip designer Arm Holdings has seen its stock market value almost double in less than a week as investors bet on the artificial intelligence (AI) boom.
The Cambridge-based company reported financial results last Wednesday that showed demand for AI-related technology is boosting its sales.
Chips designed by Arm already power almost every smartphone in the world.
The firm was taken private by Japan's SoftBank in 2016 and it returned to the stock market last September.
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