Arm

“It's a mid twenties billion dollar company. No more.”

“Arm's revenue last quarter, six hundred seventy five million down two percent year over year. Up seven percent quarter over quarter. Fiscal full year, 20, 23, 2.7 billion ish, down one percent year over year.”

“This arm thing is, you know, pretty forced. It seems it's not like there's a ton of pent up public demand to buy these arm shares.”

“And so I think this is a very tough valuation to get right. And trying to stretch to a 60 or seventy billion dollar print, I think is really tough. This is a Honestly, a 15 to twenty billion dollar company.”

“Instacart's float was 6.7%, and Klaviyo's float 7.6. Arms float almost hit the 10%, 9.4”

“All three IPOs within a few days have breached their issue price.”

“Now on Arm specifically, the thing that I would keep in mind is that those guys floated, I think about fifteen million shares. So there's about a hundred and forty-five, hundred and fifty million shares outstanding, 90% owned by them. So there's about 10 or fi…”

“Now today the China ecosystem actually follows the global ecosystem which is good from the standpoint that every mobile phone in China, it doesn't run Google Android, but it runs a version of Android, and it leverages the app ecosystem that comes off of Androi…”

“That was the genesis of starting to pivot to ARM in a very big way inside NVIDIA, because at that time, Jensen looked at what was going on with SoCs and ARM-based architecture and moved everybody on to the SoC program.”

“Yeah, I think so because I think they're gonna, today, they largely use repurposed automotive chips, right? Things that have functional safety compliance around ADAS, but they're not specific for actuators or specific for smaller parts of the joint. So, physic…”

“If you shut off supply of a computing architecture into other parts of the world, what will happen? Certain parts of the world that have the capabilities, either in terms of people, technology innovation, they will find a way and they will find a way around, a…”

“Our business is not one yet where I can say I'm hiring less people because of AI. I'm certainly hiring less finance people and legal people.”

“I hinted in the last conference call that we're looking at going a little bit further than we do today.”

“NVIDIA is a customer of ours, so I'm not gonna say Jensen is my competitor today.”

“Share changed when cell phone compute emerged, and Intel and AMD who had fabs and the best architects got zero share, and it all moved to ARM.”