On September 17, ARM Holdings rose 6.94% in regular trading, trading at $262.41/share, with turnover of $106 million. The rally was driven by bullish remarks from CEO Rene Haas regarding the company's AI chip revenue outlook.

Haas stated he is increasingly confident that the chip design company can secure sufficient supply to meet $20 billion in customer demand for its AGI CPU. The company first disclosed the $2 billion demand visibility during its May earnings call. Haas noted that confidence has continued to climb since then, emphasizing he is now more optimistic than at the time of the July earnings report. When ARM initially announced its first custom CPU in March, the revenue expectation stood at $1 billion, with Meta slated as the inaugural customer. However, shares came under pressure at the time as the company struggled to confirm adequate supply to meet the additional demand beyond its official $1 billion guidance.

The broader semiconductor sector also traded higher, with Intel up 4.72%, Advanced Micro Devices up 3.38%, Micron Technology up 3.44%, Broadcom up 1.85%, and NVIDIA up 1.69%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)