Arm Holdings Plc shares tumbled after the chip designer gave a lukewarm revenue forecast for the fiscal year, raising concerns that the tech industry’s artificial intelligence spending spree is slowing.
Under chief executive officer Rene Haas, the UK-based company is trying to parlay that position into a bigger presence in data centre hardware — where AI demands are spurring major upgrades. Earnings per share, minus certain items, will be 32 cents to 36 cents. Wall Street was projecting 31 cents.
ARM Processors Jason Child Processor Architecture Qualcomm Inc. Rene Haas AI Hardware
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