Arm profits surge on chip demand amid Nvidia's takeover row-masa-arm_trans_nvbqzqnjv4bqqvzuuqpflyliwib6ntmjwfsvwez_ven7c6bhu2jjnt8.jpg

The global chip drought has boosted sales at Arm as semiconductor designers await the outcome of a government investigation into an acquisition by US giant Nvidia.

Cambridge company, which
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designs microprocessors used in billions of smartphones It reported 60pc sales growth in the three months to June 30 compared to a year ago, with revenue of 74.2 billion yen (485 million pounds).

Arm's profit rose to 57.3 million, compared with a 42 million loss recorded in the same period last year. It was revealed in the results of parent company SoftBank.This bright trend comes amid booming demand for chips.

As automakers and consumer electronics companies grapple with a shortage of new silicon chips It was the first profitable quarter for Arm since March 2017, excluding a single sale that helped boost profits.