Shares of Arm Holdings (NASDAQ: ARM) are moving higher today for two primary reasons. First, there was an upward trend in semiconductor stocks as several companies announced AI deals in the Middle East, assuaging concerns that “AI diffusion” rules won’t be as strict as some had feared.
Additionally, a report from Citigroup said that Arm was taking market share from AMD and Intel in microprocessors.
As a result, the stock is up 4.2% as of 11:25 a.m. ET.