Arm Holdings (ARM) was added to the Nasdaq 100 (^NDX) on Monday as shares are up nearly 140% since its public debut in September. Arm Holdings CEO Rene Haas joins Market Domination Overtime to discuss the milestone and the British semiconductor company's outlook.

Haas states that AI "is going to really, really change people's lives in terms of productivity, whether that's call centers that can become 100% automated, healthcare, bio-research where you can cut the research of a cancer drug from ten years to five years to three years. This is all going to be capable with AI. And then every device that we use, the data center, the automobile, your PC, your smartphone, they all need to run AI. There's no quibble around that."

He notes that 70% of the world's devices use Arm chips, positioning them well in the overall AI race. He adds, "I think respectfully, the analysts maybe didn't quite understand or have an appreciation at the pace of which things were moving," pointing to how quickly AI has grown. He believes the technology will be a tailwind for both smartphones and Arm, stating, "Since most of these devices are already Arm-based and the software runs on Arm, it's pretty natural that we're going to be in the center of all of that."

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This post was written by Melanie Riehl