Arm's Stock Surges in AI Boom

UK chip designer Arm Holdings has seen its stock market value nearly double in less than a week as investors anticipate the artificial intelligence (AI) boom, driven by increasing demand for AI-related technology. The company's shares have surged by over 98% following its recent financial results, reflecting the growing significance of AI in the tech industry. Arm's technology, which powers the majority of smartphones globally, is also gaining traction in the automotive sector due to advancements in self-driving technology. This surge in value is particularly significant for Arm's majority stakeholder, SoftBank, which has faced losses from declining investments.