Arm stock rockets 15% following AI chip debut

Shares of Arm (ARM) rocketed more than 15% higher in early trading Wednesday, after the company unveiled its first production data center processor: the Arm AGI CPU (central processing unit). Arm has traditionally licensed its intellectual property to other companies to develop their own chips, including Apple and Nvidia (NVDA), which uses Arm’s capabilities in its Grace and Vera CPUs. Graphics processing units, or GPUs, have dominated data centers thanks to their ability to train and run AI models. Bu ...