Arm Stock Jumps on Reported Deal to Sell Chips to Meta | Global News Avenue

Arm holding (arm) Stocks surged after reports Thursday Chip designer Developing its own chips with a technology giant meta platform (Yuan) will be one of its first customers.

ARM is expected to showcase new chips first this summer, as part of the company’s broader strategy shift, Financial Times Report Thursday. ARM is mostly Japanese company SoftBankand design and license other chip manufacturers and technology companies and license their technologyNVDA) and apple ((AAPL).

The chip is expected to be used in servers and data centers, and provides customization options for customers such as Meta. The chip manufacturing industry may be outsourced to companies such as TSMC (TSM),according to Financial Times.

SoftBank is also reportedly close to acquiring another chip design company Ampere as part of the company’s push toward AI space. $500 billion Stargate Joint Venture Announced last month Arms are companions exist.

ARM declined to comment on the report, and Meta and Softbank did not immediately respond to requests for comment.

After this news, ARM stock rose more than 6% to $164.83. With Thursday’s earnings, chip designers’ shares increased by one-fifth of their value in the past 12 months.