Arm stock soars 25% as chip maker see ‘signs of recovery' in broader market, raises guidance for the year

U.S.-listed shares of Arm Holdings PLC rallied more than 25% in extended trading Wednesday after the chip designer raised its guidance for the year, saying it is seeing green shoots in the semiconductor market. Arm ARM, +5.52% amassed higher royalty rates for its latest chip, which the company said were “typically at least double” the royalty rates for its predecessor. It also gained market share in the cloud-server and automotive markets, garnering new royalty streams, it said. “Lastly, the broader semicon ...