1159 ET - Arm CEO Rene Haas says the post-midterms tech selloff ignores the longer-term thesis about AI's impact on the economy. "The short-term blitz that happened in terms of the election, and people talking about spending, etc., etc.," Haas says on CNBC. "To me, I look at that as very, very short-term thinking." He says intelligence as a commodity is near-certain to drive GDP growth across the economy. As for Arm itself, Haas says the company posted a record second quarter and is poised to exit the year with a 60% market share in the data-center market. The company's new CPU offering should benefit from growing adoption of AI agents like Meta's Muse, he says, adding that Meta is Arm's chief customer for the CPU. Arm shares fall 12%.