Arm jumps on upbeat revenue projections from new AI chip

U.S.-listed shares of chip designer Arm Holdings ARM.O surge around 10% to $148.78 premarket

ARM unveiled AGI CPU chip for AI data centers, targeting $15 bln annual revenue from it in about 5 years

CEO said co to generate annual EPS of $9, revenue of $25 bln in 5 years

"Arm has not taken a baby step... it has jumped in with both feet, developing the highly performing and energy efficient Arm AGI CPU," Citi says

Arm's customers for new chip include OpenAI, Cloudflare NET.N, SAP SAPG.DE, SK Telecom 017670.KS

25 of 40 brokerages rate ARM "buy" or higher, 13 "hold," 2 "sell" or lower; median PT is $155 - LSEG data

YTD, as of last close, ARM up 23.5%