Arm Holdings CEO Rene Haas attributes the recent tech selloff to short-term thinking about the long-term economic potential of artificial intelligence. Arm nevertheless reported record quarterly revenue of $1.44 billion, up 27% year over year, with licensing revenue rising 50% to $773 million. Smartphone royalties grew by just 8% to $670 million, falling below market expectations and sending the stock down approximately 5% to 12%. Haas is betting on the long-term potential of AI, particularly in data centers, where Arm targets $2 billion in AGI CPU revenue across fiscal years 2027 and 2028.
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