British chipmaker Arm made its debut on the Nasdaq, opening at $56.10 per share in afternoon trading 

Arm's shares surged by 10% as soon as trading began and rose over 20% in the first 30 minutes of trading, closing up nearly 25% 

The company opened with a valuation of $54.5 billion, but its market cap quickly exceeded $60 billion 

Analysts view Arm's IPO as a positive step in reopening the US tech market for IPOs after an 18-month lull 

Arm's IPO is the most high-profile offering on the Nasdaq since the 2021 IPO boom 

The IPO market had been relatively quiet since 2022, but it has recently picked up with offerings like Oddity and Cava 

Arm's success could have broader implications for the market and the AI industry, potentially reviving investor interest 

Arm sought a valuation between $60 billion and $70 billion, highlighting concerns about high valuations in the IPO market 

Arm, a chip designer, supplies major tech companies, including Apple, and has significant potential in AI 

Arm is shifting its focus from smartphones to AI, which analysts view as a smart move given its market presence and growth potential