Ed Ludlow

ARM similarly, but actually...

Actually, it is up five percentage points and it's accelerated throughout the session.

Sales and fiscal fourth quarter will be about $1.47 billion just ahead of consensus.

How are they managing what's happening in the memory shortage?

And when is they going to transition from the handset story to the data center story?

Let's talk through it.

Arm CEO Rene Huss joins us now.

Rene, good morning.

Thank you for joining us.

There is a lot going on.

Let's get the handset smartphone and memory situation out of the way, if that's okay.

Clearly, this is impacting outlook for the smartphone market across this calendar year.

How do you think it showed up in the earnings that you posted?

And would it have been slightly better if the situation were different?

Rene, thank you for that.

Data center royalty revenue grown 100% year on year as you outlined.

I get the same question for you from everyone, sell side through to buy side, which is give me a specific year.

Mark it on the calendar when ARM goes from being handset to data center and it accounts for more of your business.

Is that inflection point clear on your calendar at least?

Rene, I want to go back to CPU.