Arm makes it into Nasdaq-100
The UK-headquartered semiconductor designer joins the elite of non-financial firms on the US tech stock exchange.
Nasdaq announced last week that Arm Holdings had replace Sirius XM in the Nasdaq-100 – a stock market index made up of equity securities issued by 100 of the largest non-financial companies listed on the Nasdaq stock exchange.
The listing is a vote of confidence in the firm, which re-emerged as a public company last September with an IPO that valued the company at USD 65 billion after its first day of trading. Its value is now up to around USD 164 billion, making it the 22nd most valuable company on the Nasdaq 100.
Just weeks ago, Arm reported solid results for 2024, with financials ahead of projections. For fiscal year 2025, it forecasted revenue in a range of USD 3.8 billion to USD 4.1 billion. Management also expects revenue to keep growing at around 20% annually over 2025 and 2026, given the pipeline of new licenses and chips under development.
The firm is believed to be creating a new AI unit and is aiming to build a prototype in partnership with contract manufacturers by next spring. Arm has been working hard to enter the AI and data centre market, which is so reliant on products supplied by Nvidia.
