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“Arm Stock Jumps 48% on AI Craze”

“Shares of British chip designer Arm surged 48% Thursday after its earnings report surprised analysts and suggested artificial intelligence may be driving a recovery in the semiconductor industry.

The company said it made a record $824 million of sales in its last quarter, and projected as much as $900 million for the current quarter. Both figures topped what Wall Street expected.

Arm’s stock has more than doubled its price at its initial public offering last year.

https://www.wsj.com/livecoverage/stock-market-today-dow-jones-earnings-02-08-2024/card/arm-shares-rise-more-than-50-on-ai-craze-S4ggb4TNXcj4gyvHz4Ul?siteid=yhoof2

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