ARM Holdings (ARM) shares surged 11.27% on Friday to close at $380.81. Bank of America raised its price target for the stock by 37%, moving from $245 to $335. The upgrade highlights long-term opportunities in chiplet architectures and custom AI computing designs.
BofA identifies agentic AI as the next major growth catalyst for the semiconductor industry. Analysts believe this trend creates a massive opportunity for chipmakers like ARM. The company also recently partnered with Super Micro Computer to develop servers optimized for AI demands.