Arm Holdings Plc (NASDAQ:ARM) surged more than 15% on Monday after Nvidia Corp's (NASDAQ:NVDA)debut of a PC processor built on its architecture underscored Arm's growing footprint in the AI computing ecosystem.
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Arm was trading around $400, reaching new 52-week highs. The stock has more than tripled from its 52-week low of $100.02, and Monday’s spike extended a run that has already made it one of the year’s best-performing semiconductor names.
The catalyst: Nvidia CEO Jensen Huang took the stage at Nvidia’s GTC Taipei keynote at Computex and unveiled the RTX Spark, a superchip the company calls “the most efficient PC chip ever created.”
