--- title: "Is the Arm version of the \"NVIDIA moment\" arriving? Morgan Stanley and Citigroup praise its self-developed CPU strategy, and the $25 billion revenue blueprint is recognized" type: "News" locale: "zh-CN" url: "https://longbridge.com/zh-CN/news/280481438.md" description: "Arm Holdings announced its entry into physical chip manufacturing at a press conference in San Francisco, launching the AI-optimized Arm AGI CPU, with its stock price rising over 13% in pre-market trading. This strategy aims to break the traditional IP licensing model, with total revenue expected to reach $25 billion by fiscal year 2031. Analysts are optimistic about its long-term revenue growth potential but also point out issues of gross margin dilution and channel conflicts. Arm aims to capture a 15% share of the $100 billion server CPU market, with revenue expected to be six times the current amount by 2025" datetime: "2026-03-25T13:23:03.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/280481438.md) - [en](https://longbridge.com/en/news/280481438.md) - [zh-HK](https://longbridge.com/zh-HK/news/280481438.md) --- > 支持的语言: [English](https://longbridge.com/en/news/280481438.md) | [繁體中文](https://longbridge.com/zh-HK/news/280481438.md) # Is the Arm version of the "NVIDIA moment" arriving? Morgan Stanley and Citigroup praise its self-developed CPU strategy, and the $25 billion revenue blueprint is recognized According to Zhitong Finance APP, semiconductor design giant Arm Holdings (ARM.US) announced its entry into the physical chip manufacturing field at a strategic launch event in San Francisco, introducing the Arm AGI CPU optimized for AI, which pushed its stock price up over 13% in pre-market trading. This significant strategic shift aims to break the growth bottleneck of the traditional IP licensing model by capturing the AI computing power market through direct sales of high-value hardware, with expectations to drive total revenue to $25 billion by fiscal year 2031. With support from core partners like Meta (META.US) and OpenAI, Arm is actively challenging Intel (INTC.US) and AMD (AMD.US) for market position in the data center sector, and Wall Street research institutions have highly praised Arm's impressive transformation. Among them, Srinivasan Pajjuri, an analyst at Royal Bank of Canada Capital Markets, wrote in a report to clients: "This strategy could bring significant revenue growth and profit potential in the long run (with earnings per share exceeding $9 by fiscal year 2031), but it will also be accompanied by gross margin dilution (with chip business gross margins at 40%-50%, while intellectual property business gross margins are over 98%) and channel conflict issues. Although debates about the business model may continue, we expect the stock's performance to primarily depend on recent fundamentals, which remain robust, thanks to the inflection point of agent-based AI, growth in data center market share, and favorable factors for CSS/v9 average selling prices." On Tuesday local time, Arm CEO Rene Haas predicted that the company's annual revenue would reach $25 billion by 2031 (with $15 billion coming from the new CPU), more than six times the revenue level of 2025. The company aims to capture about 15% of the $100 billion addressable market for server CPUs and expects to achieve approximately $1 billion in revenue in fiscal years 2027 and 2028. Morgan Stanley analyst Lee Simpson stated that Arm's focus on computing efficiency—its Arm AGI CPU features up to 136 V3 cores, each providing 6 GB/s of memory bandwidth, with latency under 100 nanoseconds and power consumption around 300 watts—can help customers seeking low-power computing solutions, including companies like Meta (META.US) and OpenAI. "Therefore, this is not intended to replace NVIDIA's Grace or Vera chips, but rather to be used for head nodes (near xPU) of companies like Cerebras, F5's network (routing) processing, and possibly even for general-purpose CPUs in enterprise environments," Simpson wrote in a report to clients. "Arm's strategy is advanced through partnerships with cloud service providers that seek to optimize total ownership costs and reduce energy consumption, allowing them to allocate more power budgets to GPU computing." Simpson rated Arm as "Overweight," with a target price of $135. He also added that compared to products from Intel and AMD, Arm's AGI CPU may be offered at a discount in terms of cost Evercore ISI analyst Mark Lipacis praised Arm even more enthusiastically, comparing it to Nvidia (NVDA) a decade ago. He wrote, "Just as Nvidia's GPUs perfectly matched the emerging AI workloads ten years ago, Arm's CPUs, with their high energy efficiency architecture and high core count solutions, are now perfectly suited for the rising intelligent agent AI workloads, making them the best 'orchestrator' for intelligent agent workloads. Our industry research shows that Arm has rapidly gained market share and has become the preferred AI CPU for hyperscale data centers. Arm estimates the current potential market size for server CPUs at $50 billion, far exceeding AMD's $26 billion, and is expected to grow to $100 billion by fiscal year 2031—this aligns with our research findings from months ago, indicating that the demand for data center CPUs far exceeds our previous expectations." Citigroup analyst Andrew Gardner called this CPU release "the most significant transformation in Arm's history." "While Arm's entry into chip manufacturing has been an open secret in the industry, we believe the breadth of this announcement is surprising: first, Arm has developed a complete server chip, the Arm AGI CPU, and is providing full product support through ODM partners; second, it has two key AI release partners, Meta and OpenAI, along with many other customers; third, it aims to achieve $25 billion in revenue and $9 earnings per share by fiscal year 2031 (ending March 31), far exceeding expectations in the most optimistic scenario," Gardner wrote ### 相关股票 - [VanEck Semiconductor ETF (SMH.US)](https://longbridge.com/zh-CN/quote/SMH.US.md) - [SPDR S&P Semicon (XSD.US)](https://longbridge.com/zh-CN/quote/XSD.US.md) - [Leverage Shares 2X Long ARM Daily ETF (ARMG.US)](https://longbridge.com/zh-CN/quote/ARMG.US.md) - [Invesco Semiconductors ETF (PSI.US)](https://longbridge.com/zh-CN/quote/PSI.US.md) - [iShares Semiconductor ETF (SOXX.US)](https://longbridge.com/zh-CN/quote/SOXX.US.md) - [Arm (ARM.US)](https://longbridge.com/zh-CN/quote/ARM.US.md) - [Roundhill ARM WeeklyPay ETF (ARMW.US)](https://longbridge.com/zh-CN/quote/ARMW.US.md) - [T-Rex 2X Long ARM Daily Target ETF (ARMU.US)](https://longbridge.com/zh-CN/quote/ARMU.US.md) - [Direxion Semicon Bull 3X (SOXL.US)](https://longbridge.com/zh-CN/quote/SOXL.US.md) ## 相关资讯与研究 - [Arm Expands Compute Platform to Silicon Products in Historic Company First | ARM Stock News](https://longbridge.com/zh-CN/news/280350392.md) - [Arm Enters Chip Market With $15 Billion Ambition](https://longbridge.com/zh-CN/news/280507586.md) - [Arm Stock Jumps on HSBC Upgrade -- Sees Massive Upside on AI Chip Growth](https://longbridge.com/zh-CN/news/279979761.md) - [Universal Display to Highlight OLED Emissive Layer Advances for Display Efficiency and Performance at ICDT 2026 | OLED Stock News](https://longbridge.com/zh-CN/news/280526192.md) - [2 artificial intelligence (AI) stocks that Wall Street loves but most investors haven't heard of](https://longbridge.com/zh-CN/news/280361666.md)