Raspberry Pi Holdings PLC shares jumped 20% to 365.6p on Tuesday morning, though, apart from some social media buzz, the reason was not immediately clear.
Following a mixed trading update at the end of January, the shares slumped to their lowest level since the 2024 initial public offer, sinking to below their 280p float price for the first time.
The company flagged that second-half performance and profitability "will depend on DRAM pricing trends, high-density memory supply availability and the effectiveness of mitigation initiatives designed to support volumes and gross margins, and customer reaction to any further increases".
Deutsche Bank analyst Robert Sanders said it was "no wonder alarm bells are ringing" when spot pricing for LPDDR4 memory (of which Raspberry Pi is the largest customer in Europe) per gigabyte is $29 today versus $2 in March last year.
But shares in RPI have risen over 40% in the past few days, in spite of any solid news for investors to feed on.
Buzz on social media centred around how enthusiasm is building around low-cost, do-it-yourself artificial intelligence (AI) projects.
Hobbyists and developers have been showcasing how a Raspberry Pi board can power a $40 “AI command centre”, while users of AI agent OpenClaw are further highlighting the board’s flexibility for dedicated hardware builds.
Social media chatter has picked up on this excitement around these home-based AI projects, which seems to be helping drive recent support for the shares.