Ilya Fushman

I mean, the existing backing includes people, Blue Chip funds like the likes of Fidelity.

You have dedicated space infrastructure or telecom infrastructure like Echo Star is in there.

Google is in there.

Bank of America is in there.

Given the amount of fundraising that's happened and how long SpaceX has been private, there's been a very long tail of people who've wanted to get into this.

And that's going to raise real questions over how they're going to get out of it.

Typically, an IPO doesn't allow much in the way of individual investors to sell their shares.

Given how long some of these people have been locked up, there may be more of a push to do that sooner than the typical 12-month lockup period.

It is a very big day for Arm, there's no doubt about that.

We've been an IP provider since we started.

We started selling compute subsystems a few years ago, which was sort of the next step, but it's not a physical thing.

But as we grew into the CSS business, we had customers that kept asking for more and more and more, and here we are today with Arm's first chip product, the Arm AGI CPU, which Meta is our lead partner for, and Meta asked us to do it with them, so we did.

Talk to me about Meta and the partnership then.

One of your customers, OpenAI, also a customer.

What are the commitments from Meta, from OpenAI to take this chip on board?

When do you start shipping?

So as Mohamed said, it's available now.

And we'll start shipping at the end of this year.

We're not saying anything publicly about the volumes associated with it, but they are material enough that we have to start talking about the product because it's going to start showing up on our revenue this year.

The revenue starts showing up this year.