Chips: "Arm bigger than all but two FTSE 100 companies after shares rocket" (ARM)

It is the crown jewel of BritTech but it's not (yet) an AI play.*

From The Telegraph:

British semiconductor champion Arm has eclipsed the value of all but two FTSE 100 companies as shares rallied after it posted booming sales.

Shares in Arm were changing hands for more than $158 on Monday, up 33pc on its closing price on Friday, valuing the business at over $155bn (£123bn).

The jump in its valuation means Arm is now behind only Shell and AstraZeneca in the values of FTSE 100 companies, which are worth £162bn and £147bn respectively.

Arm’s stock has more than doubled so far this year as investors flock to the microchip designer and its value has soared 159pc since the company went public on New York’s Nasdaq exchange in September.

The company’s skyrocketing share price has seen its overall value climb above HSBC, Unilever and BP as investors buy into claims it stands to benefit from a groundswell of interest in artificial intelligence (AI).

The Cambridge business, which was listed on the London Stock Exchange before it was taken private by Japan’s Softbank in 2016, designs critical technology used in billions of microchips - including smartphones and data centres.

Despite efforts from Rishi Sunak to lure the business back to the Square Mile, Arm opted for a bumper New York float which valued the business at around $55bn....

....MUCH MORE
*Some of our posts on Arm:

https://climateerinvest.blogspot.com/search?q=Arm

Including this 2013 post:
"The most overwhelmingly positive annual report you will ever see out of any technology company"

As a general rule we usually follow computer technology from a users point of view and don't do much on the blog outside of the Top 500 list of the fastest supercomputers in the world. This story is a bit different.

 And from July 2020's "SoftBank Explores a Sale or IPO of Chip Company Arm":

I'd like to own this one.
As noted over and over again, Queen Elizabeth should have put her foot down when the parvenu Mr. Son made his bid. See last October's:
"Q&A with Steve Roddy, vice president of the machine learning group at Arm, on culling neural nets for embedded devices, competing with Nvidia and Intel, more"  
Here's hoping that Softbank and Mr. Son are compelled by recent misadventures to re-float ARM....