Arm's new AGI CPU addresses an underserved data center market driven by agentic AI, which quadruples CPU demand. Product is designed by Arm, built by TSMC, with customers including Meta, SAP, Cloudflare, OpenAI.

Customers specifically asked Arm to build a chip for them, indicating strong market pull rather than technology push.

Already a win with real customers and orders shipping this year. Future opportunity is much larger as AI touches entire planet across data centers, robots, and wearable devices.

Traditional cloud/AI royalty TAM is $3B vs. $100B+ for new product line over 4-5 years, representing profound scale difference.