Arm Jumps 15% as AI CPU Trade Picks Up
Arm’s U.S.-listed ADRs jumped 15.1% to $256.73 on Wednesday after Bernstein initiated coverage with an outperform rating and $300 target. The rally came ahead of Nvidia’s results and amid a broader chip stock surge. Arm reported record quarterly revenue and strong demand for its new AGI CPU. Ongoing U.S. antitrust scrutiny and supply constraints remain concerns.