SoftBank’s Arm climbs 25% in Nasdaq debut

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SoftBank's Arm climbs 25% in Nasdaq debut

On Thursday, shares of SoftBank’s Arm Holdings (ARM.O) jumped about 25% above their Nasdaq debut price, reviving investor optimism for a turnaround in the sluggish IPO market.

Shares of Arm were set at the top of the anticipated range on Wednesday. The stock began trading on Thursday at $56.10 and closed the day at $63.59.

A further indication of investors’ faith in Arm’s future prospects is the company’s successful IPO debut. The semiconductor market’s anticipated expansion and the rising demand for chips for applications such as artificial intelligence and machine learning are both expected to be favorable for Arm.

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According to Marketwatch.com, Sales at U.S. retailers rose 0.6% in August, climbing for a fifth straight month, despite worries about a potential hangover for internet sellers following Amazon’s Prime Day sales event in July.

U.S. wholesale prices jumped 0.7% in August, according to the PPI index. The gain was largely because of rising energy costs, surpassing the 0.4% increase expected by economists polled by The Wall Street Journal.

Arm’s a vital element in the technology hardware ecosystem, because its chip design is crucial for almost all smartphones around the world. Last month, it reported a 1% decrease in annual revenues due to declining revenue from its two main markets of smartphones and computers.

The whole market for Arm’s chip designs, including growth in chip designs for data centers and autos, is expected to be worth around $250 billion by 2025, according to a presentation the company gave to investors.