Why Arm Holdings Stock Was Pulling Back Today

One day after Arm Holdings (ARM -8.12%) soared on news of the Stargate artificial intelligence (AI) project, shares of the chip design company known for its energy-efficient CPU architecture were pulling back.The main reason seemed to be that a closely followed semiconductor newsletter cast doubt on Arm's role in the Stargate project. Additionally, investors were disappointed with earnings results from memory chipmaker SK Hynix, which sent chip stocks down more broadly.As of 11:49 a.m. ET, Arm was down 7.7% ...