KEY POINTS
  • Arm shares soared Monday, extending a post-earnings rally into the second week.
  • Arm's strong growth forecast has led investors to declare it an AI darling.

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Masayoshi Son, chairman and CEO of SoftBank Group Corp.

Arm shares soared 29% on Monday, extending last week's rally as investors continue to applaud the chipmaker's better-than-expected third-quarter earnings and its position in the artificial intelligence boom.

Arm is now up 93% since it reported quarterly financials on Feb. 7, though without any clear catalyst for Monday's move. The stock has almost tripled since Arm's initial public offering in September, closing at $148.97, and is now worth almost $153 billion, or a little more than $30 billion below Intel's market cap.

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