Arteris Inc (NASDAQ:AIP) shares are soaring in Monday’s after-hours session after the company announced a deal with Advanced Micro Devices Inc (NASDAQ:AMD) for its next generation of AI chiplet design.

What To Know: After the market close on Monday, Arteris said AMD licensed its FlexGen network-on-chip (NoC) interconnect IP for its next-generation chips. FlexGen will provide high-performance data transport in AMD chiplets powering AI across data centers and edge and end devices.

“We are excited to collaborate and expand our relationship with AMD, a company recognized globally for its innovation in high-performance computing,” said K. Charles Janac, president and CEO of Arteris.

“With modern chiplets each having between five and 20 interconnect networks for data transport, our FlexGen NoC IP will work hand in hand with AMD’s Infinity Fabric to accelerate the performance and scalability required by today’s most demanding and diverse applications.”

Arteris said the collaboration underscores the increasing complexity of modern system-on-chip architectures, which require multiple highly specialized interconnects to efficiently meet the demands of modern systems.

Arteris is due to report financial results for the second quarter after the market close on Tuesday. Analysts expect the company to report a loss of 10 cents and revenue of $16.35 million, according to Benzinga Pro estimates.

How To Buy AIP Stock

Besides going to a brokerage platform to purchase a share — or fractional share — of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Arteris' case, it is in the Information Technology sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

AIP Price Action: Arteris shares were up 41.59% in extended trading Monday, hovering around $13.38 at the time of publication, according to Benzinga Pro.

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