New Delhi, March 25 -- Arm Holdings stock surged over 19% on Wednesday following the UK-based firm's introduction of a new processor suite tailored for data centers and artificial intelligence.

In a landmark strategic shift, the company revealed on Tuesday that it will begin selling its own physical chips for the first time. The move is projected to generate approximately $15 billion in annual revenue within five years.

Facebook and Instagram owner Meta Platforms Inc. has been named the primary customer for the new processor, dubbed the "AGI CPU," Arm announced during a Tuesday event in San Francisco. The hardware will feature up to 136 cores - a significant measure of processing capability-and maintain a 300-watt power profile. Taiwan ...