The most aggressive Masayoshi Son said that ARM will be his second-best investment after Alibaba - he has invested in hundreds of companies and lost countless billions, but he hit it big with Alibaba.

After careful research on ARM, it really might be true what he said, and I even think it could make more profit than Alibaba.

What kind of company is ARM?

In the past: not manufacturing chips, only collecting tolls

ARM does not manufacture chips; it sells blueprints and instruction sets for chips, then collects tolls from all the chips built based on its blueprints. In the past, it mainly taxed smartphones (99% of smartphone processors worldwide are based on ARM architecture), and in the next decade it will start to tax data centers, robotics, autonomous driving, and Internet of Things devices comprehensively.

This business has been running for 35 years.

Now: manufacturing chips

On March 24, 2026, ARM did something for the first time in 35 years - launched its self-developed chip AGI CPU. Upgrading from "only selling blueprints" to a three-track parallel of "blueprints + subsystems + finished chips." The first customer was Meta, with subsequent customers including OpenAI, Cloudflare, Cerebras, SAP, SK Telecom, and others.

This is a 35-year-old company at a major strategic turning point.

1.3 Four forces driving the explosion of CPU demand simultaneously

1.4 Is ARM the main beneficiary?

2. Looking at the business model: Taxation rights for computing in the AI era

2.1 What is the business model?

"ARM Research Report: The Visa of the AI Era?"

https://mp.weixin.qq.com/s/prwoqZckHDP6taa-VOey-w

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。