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UK chip designer Arm sees shares almost double
The firm's shares have soared since its earnings announcement last week and are now up more than 98%.
UK chip designer Arm Holdings has seen its stock market value almost double in less than a week as investors bet on the artificial intelligence (AI) boom. It has also made it the fifth publicly traded US company to join the so-called "Trillion-dollar club", along with technology giants Apple, Microsoft, Alphabet and Amazon. However, in April 2022 SoftBank shelved the deal after facing objections from regulators around the world and said it would instead sell shares in Arm on the Nasdaq stock exchange in New York.
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