Arm Shares Surge on Qualcomm Deal Rumors
Arm Holdings' shares surged over 6% today on rumors of a new deal with a major chipmaker, Yahoo Finance reporting. Despite the excitement, financial details of the potential agreement remain scarce. Reports suggest that Qualcomm has opted to use Arm's latest technology in its products, Google Finance noting. However, neither party has disclosed the financial terms or the value of the suspected contract. This comes amidst ongoing legal disputes and licensing disagreements between the two companies, with Arm recently vowing to appeal a recent ruling. The S&P 500, meanwhile, gained a modest 0.3% during the same trading session. While the potential deal with Qualcomm has boosted Arm's share price, the lack of financial details leaves investors in suspense. Arm, however, has expressed its eagerness to continue doing business with Qualcomm.
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