The numbers on data center processor revenue share are stark. Nvidia has been growing strongly for years and now dominates the league tables. The only question is really what is the new status quo for their share?
Everyone assumes that Arm and RISC V are locked in a Highlander contest where there can only be one, but in practicer we think we are going to see a lot more chips containing both, sitting next to each other.
The market for Semis IP has gotten a lot more interesting in recent years, and looks set to become even more so. And while the incumbents retain their market concentration, the changing nature of compute is opening the doors to many new entrants.
Arm actually turned in a fairly strong set of results. Good growth. Backlog grew by $1 billion. But it is early days for this recent IPO and the company is still learning the Language of the Street.
Apple’s M3 launch stood out for its focus on how people actually use computers, the lack of AI acronyms and the fact that they launched 3 chips all at once. It is only getting harder to compete with them.
Microsoft is opening up the market for Arm-based laptop CPUs. This is bad news today for Qualcomm, and potentially bad for Intel over the very long term
RISC V pioneer SiFive has gone through several iterations, but has now solidified a business model that essentially positions it as a direct competitor to Arm. If they can continue to execute they will benefit from much of the very healhty RISC V momentum
Arm now has a roadshow video which provides insight into the company’s growth plan. It also has a new target valuation. At $52 billion that remains challenging, but at least we now have an outline of how the company plans to grow.
Arm is a good company, but the rumored $64 billion valuation for their IPO will likely doom it as a stock/
Arm’s IPO filing – the gift that keeps giving – highlights so far: IPO proceeds go entirely to Softbank; a close look at ARM’s end market TAM by segment, and a valuation for Ampere.