241–250 of 279 posts
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The fact that the UK government allowed ARM to be sold to Softbank in the first place speaks volumes for how much the UK government values engineering.
The fact that they allowed Imagination Technologies to be sold to a Chinese company in this age of GPU powered AI is ......... even worse of an example
How long until Apple does a hostile takeover? /s I assume regulators would block a hostile takeover like they would a regular buyout if there are concerns regarding market power?
Why because afaik they have a master IP license in perpetuity to ARM designs and they can chop and change what they want - nothing is stopping them from diverging from ARM reference designs completely and retaining just the instruction set because it is useful to tool vendors and programmers.
Very, very unlikely anyone would get a perpetual license that covers all future products just because they were a founding shareholder.
I did some detective work on this a while ago for my newsletter (link in bio) from behind the paywall:
> … Apple and Acorn were paying royalty fees soon after they founded the company why should that change to grant Apple a royalty-free license at some point later?
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Small correction: Net income: 0.524 bb So 19.6% profit margin. Still nice.
I'm not an accountant, but I think I'm referring to gross profit margin [1], which is revenue minus cost of goods sold (which is small for an IP licensing company, any company that actually sells hardware will be a fraction of that). I think your math refers to operating margin, that's after they subtract all the operating overheads which are fixed, and not proportional to sales volume. In other words a 96% gross mar…
(S-1 is for domestic corporations and F-1 is for foreign ones)
https://www.sec.gov/Archives/edgar/data/1973239/000119312523...
“Despite our significant reliance on Arm China through our commercial relationship with them, both as a source of revenue and as a conduit to the important [Chinese] market, Arm China operates independently of us,” the prospectus warned, adding that Arm did not have any direct management rights or the right to representation on Arm China’s board.
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Why would Apple ever want to own ARM? Their internal CPU design team is years ahead of the ARM team. Apple has an architectural license and doesn't care about ARM core designs. Quite honestly, ARM falling on its face hard is actually a benefit to Apple. That would mean that Apple Silicon and iPhone SoCs have less competition. Imagine if Qualcomm chips based on ARM designs are 5 years behind instead of the 2-3 years n…
> But the Nvidia + ARM combo made sense from a technical and strategic standpoint though. Made sense for Nvidia. Not for other Arm customers.
F-1: https://www.sec.gov/Archives/edgar/data/1973239/000119312523...
The "risks" section is pretty interesting, e.g.: "Arm China is 25% of our revenue, but we have no control over them, they have failed to pay us in the past resulting in us taking on additional costs to recover the money, also we have no way of knowing what they actually owe us and other than what they say, which has already been a problem"
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> want rentier incomes with low risk. I don't know if I buy your point about inherited wealth but there is what I'd describe as a stifling culture of rentseeking that, if not actively encouraged is certainly tolerated and overlooked, at many levels of society, and across both businesses and public organisations. And once you become aware of it you start to realise how obnoxious and oppressive it is. We certainly don'…
Excellent comments both yours and the one you replied to. Once you see it you really can’t unsee it. The UK is a marvel that it manages to cultivate such an incredible creative scene in the shadow of the rent seeking mediocrity.
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> But the Nvidia + ARM combo made sense from a technical and strategic standpoint though. Made sense for Nvidia. Not for other Arm customers.
...because seriously, how many of those customers could ever possibly want to use Nvidia's graphics or AI silicon? That stuff is never going to fly.
Interesting. As much as ARM-based processors are doing so well in the market, it's important to understand that ARM has specific licensing agreements with Apple, Samsung, etc. It is not so obvious that it will continue being a cash cow for many more years.
Well no one can predict the future but what's your reasoning that such an important technology partner to such massive companies will all of a sudden stop innovating and become less significant?
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...because seriously, how many of those customers could ever possibly want to use Nvidia's graphics or AI silicon? That stuff is never going to fly.
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Nvidia dodged a bullet when the merger failed. ARM, not so much. I would be delighted to be proven wrong about all this by ARM's future success. Unless I succumb to the temptation to short the stock, in which case my happiness would be attenuated somewhat.