They let their customers make most of the money, which is how they grew the ecosystem with all the network effects. Just as an example, Qualcomm is a 10% custom

They let their customers make most of the money, which is how they grew the ecosystem with all the network effects. Just as an example, Qualcomm is a 10% customer of ARM, and they made $38b in chip revenue in fiscal 2022. ARM had $2.7b. Now they want more, and are going to push people to RISC-V if they’re not careful