What’s missing from most of these analyses is the perspective that Arm really doesn’t want Qualcomm to become a dominant - architecture license (ALA) based - vendor of Arm based SoCs. Bad for Arm and for Arm’s other customers and the ecosystem.
Whilst Qualcomm has a wide ranging ALA that’s always a possibility. This might just be an opportunistic move to remove that threat to Arm’s business model.
So previously ARM mainly just licensed the ISA or licensed already made cores for people who wanted to creating their own and now they want to shift the paradigm to mainly being that you buy cores from ARM and get them to customise them for you? They want to move up the food chain?
Sure Arm has done things - eg pricing v8 to v9 that customers hate. But do you really think Mediatek for example wants to compete with Qualcomm selling Nuvia based cores with a low ALA based royalty.
Whilst Qualcomm has a wide ranging ALA that’s always a possibility. This might just be an opportunistic move to remove that threat to Arm’s business model.