Arm Holdings and NVIDIA Surge Amid AI Frenzy

Stocks soar as investors and traders rally around artificial intelligence optimism.

Arm Holdings' stock has surged over 80% since last Wednesday, fueled by optimism around artificial intelligence and a quarterly outlook that surpassed Wall Street's expectations.
NVIDIA continues its strong performance from 2023 into 2024, with shares up nearly 53% year to date, driven by the artificial intelligence frenzy on Wall Street.
Arm's stock market value reached a record $141 billion, nearly tripling since its IPO last September, with a significant portion of its shares controlled by a small group of investors.
Options traders have shown increased interest in Arm Holdings, with options volume soaring to about 490,000 contracts a day, indicating a hunt for the 'next NVIDIA'.
Despite a brief period as the most valuable among big tech companies, NVIDIA's market value has adjusted, but it remains a key player in the AI-driven market surge.