Arm is Building Chips
After years of chatter, Arm has begun selling finished chips. Ignore the AGI/agentic PR chrome. The company is simply selling server-class processors. The key lead customer is Meta, but Arm has lined up other customers, ODM/OEMs, and fellow travelers.
Merchant suppliers of Arm-compatible processors have struggled (Nvidia excepted), but hyperscalers have adopted the company's wares. Their chips aren't particularly differentiated. It makes sense that Meta would simply buy one off the shelf, provided the SOC architecture and enablement are done right--which are exactly what Arm is attempting.
