Arm Holdings plc (ARM) shares climbed over 16% on May 21, 2026. The stock closed at a record $298.23. Positive results from Nvidia’s latest earnings report triggered the rally.
Jefferies raised its price target for Arm to $290. Analysts cited Nvidia’s projected $20 billion in standalone Vera CPU sales as a catalyst for Arm’s royalty and licensing revenues. These Vera CPUs utilize custom Arm architecture.
Bernstein initiated coverage with an Outperform rating and a $300 price target. The firm identified a shift toward agentic AI as a primary growth driver. This transition moves AI infrastructure from GPU-focused training to CPU-centric inference. Arm’s power-efficient data-center chips stand to benefit from this infrastructure shift.