> there is no potential for massive growth There is the PC business, but it's slowly dying. Seems a bit late in the game to drag it to a new architecture. Dat

> there is no potential for massive growth There is the PC business, but it's slowly dying. Seems a bit late in the game to drag it to a new architecture. Datacenters are another place ARM might see growth, but Intel and AMD already competitive there. The biggest growth area might be Nvidia's Grace Hopper, but you might as well buy (already overpriced?) NVDA. The reasons for IPOs are for investors to cash out (Saudi Aramco) or to raise money for growth (tech before ~2010). This feels like a cash-out. It's not that investors will necessarily lose money, it's that they're buying a much more mature company than they think.