Lee Simpson

are we looking at this as each agentic flow requires one core? Or could we look at this differently

I see China is maybe 22% of sales this Q. And I was just wondering what is driving that?

does it make sense to actually stretch the performance here in time and go beyond that 4 tops level?

it does look as though this is an increasingly important space for you. So I'm trying to understand why is that?

can you outline just more clearly what the opportunity is -- set is for Arm, including the sell-in of new products

I'm just trying to get a sense for the momentum here and what really is still the early years in this breakout

It didn't sound like it would be on a subscription basis. It would be on a sort of value to customer basis. So I wonder if you could maybe just expand a little on that

it looks as though you're up about 53% year-on-year, doing well in the mix, up to 18%. That feels more than just a sort of return of business post the restrictions on the BIS letter last quarter

do we need a new business model or a different go-to-market strategy to get full value here?

your main offering is a software and services product, which may not have the same risk from reciprocal tariffing regimes

Is this the sole source of strength for the chiplet reference design? And maybe if we ex that business out of China for this year

the monetization perhaps on Agentic Play would come on a value-based basis, perhaps even on a token-based basis

Is there a specific area that we should be thinking about here? It sounds to my ears, and I could be wrong, obviously, that this is mainly foundational IP

your first payment appears first of October of this year. But I suppose this rather than being a clean semi-annual coupon, it may include some of the catch-up

are you looking at this as an operating margin driver? Or are you looking at this as a product development acceleration