$Arm(ARM.US) this run is kinda a mix of AI narrative + positioning + business has model edge.

Why it’s outperforming:

• ARM is a royalty model, so every AI chip (even from Nvidia / hyperscalers) can feed into it → cleaner margin story

• less capex risk vs fabs → market prefers it in uncertain macro

• relatively less crowded than mega-cap AI trades → easier to squeeze higher

Technically it likely broke a key range → triggered momentum + chasing

So yeah, not random — it’s “AI without heavy baggage” trade.

@Bridge Buzz SG