ARM CEO: Tech Selloff Shows Short-Term Thinking on AI
Dow Jones
Nov 06
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%.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.