Loading chart...ARM (Arm Holdings) share price chart is displayed. The chart shows the adjusted closing price history with 714 data points covering from the company's 2023 IPO through the present.

At $100 per share, ARM's market cap would be approximately $106.8 billion, based on the latest diluted share count of ~1.068 billion shares.

Let me pull up the ARM share price chart and dig into that related-party revenue question.

Loading chart...Now let me search for ARM's related-party revenue disclosure in their latest filings.Excellent. Let me now pull the actual numbers over recent quarters to give you a clear picture.Now let me put this together. From the SEC filings and earnings transcripts, here's the breakdown:

ARM Related-Party Revenue: It's SoftBank — and It's Actually Quite Strategic

The "related party" is SoftBank Group, which owns roughly 90% of ARM. But this isn't just ARM selling to itself — it's tied directly to Stargate, the $500 billion AI data center joint venture announced in January 2025 between SoftBank, OpenAI, and Oracle.

The Numbers

ARM's SEC filing breaks out related-party revenue vs. external customers:

The spike in Q1 and Q2 FY26 (Jun & Sep 2025) is the story: related-party revenue jumped from ~$126M/quarter to $328M, then $422M.

What Is It?

CFO Jason Child explained this clearly on the Q2 FY26 call: it's license fees + funded R&D design services that ARM provides to SoftBank. SoftBank is paying ARM to help design chips for the Stargate data center build-out. At its peak, this was running at $178M/quarter (CFO called it "a good run rate to assume going forward").

Crucially, Child noted: "If SoftBank wasn't a related party, we would just be booking license and design services. And it wouldn't be related party, but then the numbers would be pretty similar."

What Is It NOT?

It's not a hyperscaler like Google or Microsoft taking a stake and routing revenue. OpenAI is a Stargate partner, and the compute demand comes from multiple hyperscalers, but the related-party line is specifically SoftBank.

The Real Story

Think of it as SoftBank — through Stargate — effectively funding ARM's R&D to design next-gen data center silicon. ARM gets paid for the work now (lower-margin design services revenue). Later, when those chips actually ship, ARM would earn royalties on them. But at that point the revenue would presumably flow through normal channels.

The relationship is transparently disclosed and entirely logical: SoftBank controls ARM, SoftBank co-founded Stargate, and Stargate needs massive compute infrastructure. ARM's architecture is the most power-efficient CPU platform for data centers. It's a vertically-integrated build-out — not a shell game.

You're right — let me look at the Q4 FY26 disclosure specifically (the quarter ending March 31, 2026).Now I have the full picture. Let me also grab the Q4 FY26 call transcript detail.