Arm Holdings third-quarter forecast tops expectations, helped by AI

Chip technology provider Arm Holdings gave a fiscal third-quarter forecast on Wednesday that topped Wall Street’s expectations, boosted by the boom in artificial intelligence computing.

For the current fiscal quarter, Arm forecast revenue of $1.23 billion at the midpoint of its guidance, which exceeded the average analyst estimate of $1.1 billion, according to LSEG data.

Arm’s second-quarter revenue rose 34% to $1.14 billion, higher than analyst estimates of $1.06 billion.