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OverviewAPI
Arm, a British chip designer majority owned by SoftBank, experienced a significant surge in market valuation to $153.2 billion due to improved earnings and increased demand from AI. The company's outlook for stronger demand from an AI boom led to the hype and subsequent market reaction. However, Arm fell 3% in aftermarket trade, indicating potential near-term losses due to its high price-to-earnings ratio. Despite this, the long-term prospects for Arm remain positive, especially amid the growing popularity of AI.

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