Arm closed up 47.89% after issuing a strong profit forecast, adding ~$38B to its market cap, with $34B+ of that accruing to SoftBank, which owns 90% of Arm (CNBC)

CNBC:

Arm closed up 47.89% after issuing a strong profit forecast, adding ~$38B to its market cap, with $34B+ of that accruing to SoftBank, which owns 90% of Arm  —  – Shares of chip designer Arm climbed 48% on Thursday.  — The company reported better-than-expected earnings for the third quarter, and issued an optimistic forecast.