Arm Holdings (NASDAQ:ARM) is one of the most profitable new stocks to buy now. On July 9, Arm Holdings significantly expanded its presence in the data center market, with the number of customers using Arm-based chips in data centers surging to 70,000.
This represents a remarkable 14x increase since 2021. This growth is attributed to the high demand for GenAI computing, with Arm reporting a 12x increase in startups using its chips since 2021.
Close-up of Silicon Die are being Extracted from Semiconductor Wafer and Attached to Substrate by Pick and Place Machine. Computer Chip Manufacturing at Fab. Semiconductor Packaging Process.
Companies like Amazon.com Inc. (NASDAQ:AMZN), Alphabet Inc.’s (NASDAQ:GOOGL) Google, and Microsoft Corp. (NASDAQ:MSFT) have developed their own in-house Arm-based chips for their extensive infrastructure. For instance, Amazon rolled out several generations of its Arm-based data center processors (CPUs) since 2018, which include AI-optimized versions, adding millions of these chips to its AWS cloud computing platform.
Arm Holdings engages in the architecture, development, and licensing of central processing unit products and related technologies for semiconductor companies and OEMs.
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This article is originally published at Insider Monkey.
