Arm's IPO Success Continues with Soaring Share Prices

Arm Holdings, the British chip designer, saw its shares jump another 6% on its second trading day, reaching a valuation of over $72 billion. This comes after a 25% rally on its first day of trade. Despite concerns over its valuation and Softbank's control, there was significant demand for Arm shares, with the IPO reportedly being multiple times oversubscribed. Arm, whose chip architecture is widely used in smartphones, is now diversifying its business into areas such as artificial intelligence and automotive applications.