Shares of Arm Holdings (NASDAQ: ARM), the semiconductor company that went public last September, were having a day to remember today as the stock soared following its third-quarter earnings report.

The company easily beat estimates on the top and bottom lines, and its numbers indicate that it would start to benefit from the artificial intelligence (AI) boom, as it said it was bringing AI to billions of Arm-based devices.

The stock was up 57.4% as of 11:22 a.m. ET on the news.

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Source Fool.com