Shares of the chip design company jumped significantly on Thursday as it surpassed expectations and projected robust growth, stemming from Arm's strategic expansion into data centers and automotive technology.

The demand for Arm's computing blueprints, used in devices ranging from smartphones to smart cameras and cars, has intensified with AI integration.

Haas highlighted that Arm's technology is now omnipresent across various industries and used by a wide array of clients, including major car manufacturers and consumer electronics brands.

Despite a rocky start as a public company with an initial drop in stock price, Arm's shares have rebounded impressively, marking a nearly 90% increase since their debut.