Rambus Inc. (NASDAQ:RMBS) saw its stock soar 5.05% in Wednesday's intraday trading session, fueled by strong demand for its semiconductor products and solutions driven by the growing adoption of artificial intelligence (AI) technologies.
The chipmaker reported impressive fourth-quarter results, with revenue rising 32% year-over-year to $161.1 million and a GAAP EPS of $0.58. The company's cash, cash equivalents, and marketable securities stood at $481.8 million as of December 31, 2024, providing a solid financial foundation.
Rambus' management highlighted that the expansion of AI in 2025 and beyond will drive advancements in hardware, increasing demands for power, performance, and security across various markets. To capitalize on this opportunity, the company has strengthened its market position, accelerated product development, and expanded its addressable markets, laying the groundwork for future growth.
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