Arm Holdings shares rose 3.5% in premarket trading. SoftBank Group founder Masayoshi Son expressed strong confidence in the company’s growth potential during an annual shareholder meeting.
Son predicts Arm’s value will grow tenfold from its current level. He dismissed the recent global selloff in AI-related stocks as a temporary setback.
Arm’s stock has more than tripled in value this year. This growth follows excitement over the company's central role in the AI chip market.
Son credited Arm’s strategy of developing internal chips for future growth. He also highlighted the increasing importance of CPUs in AI computing.
SoftBank maintains a majority 86.39% stake in the company.