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Arm Holdings (NASDAQ:ARM) shares climbed as much as 16.8 percent to $322 on Monday, marking a fifth straight day of gains.
The rally followed remarks from CEO Rene Haas, who expressed heightened confidence in the company's ability to meet its revenue objectives for its emerging chip segment.
Speaking with CNBC's Jim Cramer, Haas described demand for CPUs, GPUs, and memory from data centers, automotive robotics, and edge computing as "off the charts." He cautioned that supply chains may face difficulties meeting this surge, citing constraints in wafers, substrates, testing equipment, and memory.
Haas stated that his confidence in Arm Holdings hitting its $2 billion revenue target for the emerging chip business has grown since the company first provided visibility to that figure in May.
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