Arm shares jump on report that Meta will be the first to buy new chip

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Arm Holdings Plc rose as much as 8.4% after the Financial Times reported that the company landed Meta Platforms Inc as an early customer for a new chip.

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The chip is poised to be the first that Arm is selling under its own brand, and it should be unveiled as early as this summer, the Financial Times said, citing unidentified people familiar with the matter. The UK-based company made its name as a chip designer, licensing its technology to others instead of making its own products.

Arm shares climbed as high as $168.38 in New…



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Arm shares jump on report that Meta will be the first to buy new chip


Arm Holdings Plc rose as much as 8.4% after the Financial Times reported that the company landed Meta Platforms Inc as an early customer for a new chip.

Company Value Change %Change

The chip is poised to be the first that Arm is selling under its own brand, and it should be unveiled as early as this summer, the Financial Times said, citing unidentified people familiar with the matter. The UK-based company made its name as a chip designer, licensing its technology to others instead of making its own products.

Arm shares climbed as high as $168.38 in New…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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