Arm Rallies After Predicting Booming Sales From New Chip Line

Arm Holdings Plc shares rose by the most in almost a year after the company announced plans to sell its own chips for the first time — a move forecast to generate about $15 billion annually within five years.

Meta Platforms Inc. will be the first major customer for the company’s chip, called an AGI CPU, Arm said Tuesday at an event in San Francisco. The product will have as many as 136 cores — a measure of processing power — and draw 300 watts of electricity, according to the UK-based company. Taiwan Semiconductor Manufacturing Co. will produce the chips.