Some of the biggest beneficiaries of the artificial intelligence (AI) boom are semiconductor stocks. That includes Arm Holdings (NASDAQ: ARM), which plays an important role in the chip space by developing and licensing central processing units (CPUs). Although Arm may not be as highly publicized as Nvidia or Advanced Micro Devices, I would not sleep on this company.

Let's dig into Arm's business and assess why now looks like a great opportunity for long-term investors to scoop up shares.

Arm's total addressable market (TAM) spans many different aspects of the chip market. In particular, the company's CPUs are leveraged among applications including mobile, consumer electronics, cloud computing, networking equipment, and the Internet of Things (IoT).

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Source Fool.com