Arm Holdings: The AGI CPU Inflection No One Sees

ARM reported 26% revenue growth to $1.24B, with royalties reaching $737M and licensing rising 25% to $505M. Data center royalties surged over 100% year-over-year, signaling a structural shift away from smartphone-driven revenue dependence. Armv9 and Compute Subsystems increase royalty rates per chip, enabling revenue growth even with flat global shipment volumes.