Arm Holdings
ARMQ2 2024(ARM Q4 FY2024)Estimated10% AI
AI Revenue %
10%
AI Fair Value
$7.1B
AI Revenue (Q)
$98.3M
Total Revenue (Q)
$983.0M
Source: SEC EDGAR 20-F Filing
View 20-F on SEC.govAnalysis
Arm reported $928M total revenue (License $414M + Royalty $514M) for Q4 FY2024 (Jan-Mar 2024), derived from FY2024 annual ($3,233M) minus nine-month ($2,305M). Record royalty quarter driven by Armv9 adoption and growing data center presence. AI-relevant revenue: (1) data center Neoverse royalties est. ~$51M as cloud custom silicon ramps (Graviton, Grace, Cobalt), (2) AI-specific licensing est. ~$28M (Arm Total Access deals for AI chip designers), (3) mobile AI NPU/inference royalties est. ~$14M. Total ~$93M / $928M = ~10.0%. FY2024 full year: License $1,431M + Royalty $1,802M = $3,233M; four customers at 49% suggests growing diversification including AI chip designers.
Analyzed by claude-opus-4-6
Quoted Figures
Fiscal Year 2024: License and Other Revenue $1,431M, Royalty Revenue $1,802M, Total $3,233M
20-F filed 2024-03-31, Disaggregation of Revenue table
Nine months ended Dec 2023: Total Revenue $2,305M; therefore Q4 FY2024 = $3,233M - $2,305M = $928M
Derived from 20-F FY2024 and 6-K Q3 FY2024
AI Products Identified (Ring 1)
Neoverse V2/V3 (data center)Ethos NPUArmv9 CPU coresCSS for AI servers
AI-Enabled Items (Ring 2 — Not Counted)
These items use AI but are not counted in the AI revenue estimate because they primarily serve non-AI functions.
Mobile CPU IPIoT/embeddedAutomotiveNetworking
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix