Arm Holdings (ARM) is having a good day on Thursday, and it has Nvidia (NVDA) to thank. The chip designer's stock is riding high after Nvidia's second-quarter earnings blew past expectations, sparking a broad rally across the semiconductor sector. Nasdaq futures are up 0.93%, while S&P 500 futures have gained 0.41%.
Why Arm Stock Is Surging on Thursday
MarketDash
Arm Holdings PLC (NASDAQ: ARM) stock surges Thursday following Nvidia’s Q2 financial results and optimistic guidance for AI infrastructure buildout.
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Nvidia's Earnings Beat
Nvidia reported second-quarter revenue of $96.22 billion, up 106% year-over-year, beating the Street consensus estimate of $92.18 billion. Adjusted earnings per share came in at $2.22, topping consensus estimates of $2.10. Data Center revenue surged 117% year-over-year to $89.0 billion.
Accelerating AI Demand
“AI has reached its inflection point. It's doing useful work. Its tokens are productive and profitable. Now, compute is revenue,” Nvidia CEO Jensen Huang said. “And demand is accelerating.” Huang added, “The AI infrastructure buildout is at full steam. Vera Rubin, now in full production, was built to power exactly this moment.”
Nvidia expects third-quarter revenue between $105.84 billion and $110.16 billion, representing 85.7% to 93.2% year-over-year growth. The outlook beats the Street estimate of $104.20 billion.
Technical Analysis
At $260.00, ARM is trading about 0.4% below its 20-day SMA ($260.55), which puts the stock right on a near-term decision point rather than clearly trending. The bigger picture is still mixed: it's trading 11.8% below its 50-day SMA ($294.28) and 4.3% below its 100-day SMA ($271.27), but remains 30.8% above its 200-day SMA ($198.40).
From a trend-structure standpoint, the 20-day SMA sitting below the 50-day SMA keeps the short-term posture cautious, even as the longer-term “golden cross” from April (50-day above the 200-day) still argues the broader uptrend hasn't fully broken. Traders will also remember the stock's June swing high and the more recent August swing low as the current range markers that define where breakouts or breakdowns can accelerate.
- Key Resistance: $299.50 — lines up near the $300 round-number area and sits close to the 50-day SMA ($294.28), a common spot where rebounds can stall
- Key Support: $243 — a nearby floor that sits below current price and can act as the next “line in the sand” if the pullback resumes
ARM Price Action: ARM Holdings shares were up 4.81% at $263.12 at the time of publication on Thursday.
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