Joe Quatrochi

how you view Arm Holdings plc American Depositary Shares' role and the role of the CPU in AI and cloud data centers and just how does that change as we start to see more proliferation of AI agents

how do we think about the puts and takes of this royalty revenue growth and the risks that are associated with the potential like demand destruction that we're seeing

I noticed in the filing you announced your intention to acquire DreamBig Semiconductor

Any help in the context of like what that was last year?

just trying to understand not giving a fiscal '26 guide and just trying to understand the context there

how should we think about the contribution to royalty revenue ramping as we enter fiscal '26

I wanted to ask one on 2026, your commentary. I guess I wanted to try to better understand what has changed over the last 90 days just in your customer conversations.

on the gross margin side, I think if you kind of look at the implied December quarter guide, any sort of help on just like what's kind of driving the -- I think gross margin will take a bit of a st...

Is there any interest in altering delivery schedules?

how many of the 3600 are still left that you prebuilt, I think, last year in inventory? Is there anything that we should think about like, in terms of the salability of those tools

if customers are able to build capacity for AI, then you think you can hit the high end of your revenue guide? How do we think about that relative to your lead times?

the cost of High NA installs this past quarter was a bit lower than expected. As we look in the second half and you talked about gross margin maybe a little bit higher in the first half.

it seems like maybe based on the guidance, March is is kind of the bottom and we move higher from here

Any way that you can kind of help us understand just what could growth has potentially kind of been first half or second half if you didn't have those supply constraints?

I was curious just to think about just the advanced packaging process control intensity. I think just based on some of the things you put out there or talked about in the past, it's like high teens...

Can you help us just understand like what's driving that?

Do we just think about that as being maybe the peak to trough is less steep on a new node ramping?

can you just help us like understand kind of what's giving you the confidence there to increase it?

is cleaner in space of potential kind of gating factors as you look into '26?

can you talk about just the difference in HBM process control intensity, relative to conventional DRAM

do we just take that, I guess, quarterly kind of run rate impact all in the March quarter and then grow from there?

Is there any area of your supply chain where you're pushing suppliers maybe that that could be a potential area of shortage?

For the December quarter, the strength that you saw in NAND revenue, I just wanted to clarify, was there anything