On September 17, ARM Holdings rose 3.08% in pre-market trading, trading at $251.50 USD/share, with turnover of $2.4442 million.
On the news front, ARM Holdings CEO Rene Haas stated that he is increasingly confident the chip design company can secure sufficient supply to meet $20 billion in customer demand for its AGI CPU products. Haas noted that when ARM first disclosed the $20 billion demand visibility during its May earnings call, the initial revenue expectation was $10 billion when the first custom CPU was announced in March, with Meta as the inaugural customer. However, supply constraints at the time kept official guidance at $10 billion and pressured the stock. Haas emphasized that confidence has continued to build since then, saying he is now more optimistic than during the July earnings report. The news comes after ARM experienced significant volatility in recent sessions, including a 9.74% single-day drop on September 14 amid a broad semiconductor selloff triggered by AI industry leaders calling for slower technology development, followed by a multi-day rebound supported by analyst upgrades and a joint chip development initiative with Samsung targeting on-device AI using 2nm process technology.
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