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.
Arm filed its long-awaited IPO prospectus…and while it had a lot of interesting data, the overall picture is not exciting. A slow growing company where not much seems to have changed since it was last public seven years ago.
Analog and digital chip companies have operated largely independently for years, but those boundaries are shifting, which may be opening up some major opportunities.
RISC V chips may be seeing some progress with getting software optimized for it. We could end up in a world in which open source software runs on open source semis, while closed software, as in cars and mobile phones, runs on Arm.