British fabless semiconductor chipmaker Arm Holdings PLC (NASDAQ:ARM) scored a more than 29% gain to $148.97 on the US markets yesterday, meaning it’s doubled in value since the start of the year.
It’s a stellar performance for the company and a vindication of the group’s decision to list in the US instead of on home territory.
Arm, which makes CPUs for basically every mobile phone on the planet, touted its expertise in artificial intelligence applications in last week’s record quarterly trading update.
Total revenues came to $824 million (£652 million), up 14% year on year, with royalty revenue up 11% and licensing revenue up 18%.
Arm receives royalties for every smartphone and device that incorporates its CPU architecture, while licensing revenues are generated by customers paying for access to Arm’s bank of software and intellectual property.
During the quarter, Arm signed five additional licensing agreements for its Total Access product, taking the total number of extant licences to 27, and added six net clients to its Flexible Access programme.
The Cambridge-headquartered group now has a market capitalisation of more than $153 billion.