“NVIDIA’s Next AI Superchip Could Be Even More Lucrative Than Blackwell…” is the headline Dylan Jovine is using to sell a Behind the Markets report. The pitch hides the company behind NVIDIA’s latest AI hardware and promises a supplier with a royalty stream that could outshine the chips themselves.
The promotion says this unnamed business provides the CPU architecture inside NVIDIA’s Blackwell and Thor systems, holds nearly 7,000 AI-related patents, collects billions in annual AI royalties and could power half of data-center AI chips. It also invokes NVIDIA, OpenAI’s Stargate project and a supposed SoftBank deal. No deadline is supplied in the promotion details reviewed.
The stock is identified below. Our confidence is strong but not absolute: 91 out of 100.
The clues they left
The useful clues are unusually specific: a 20-year relationship with NVIDIA, CPU architecture inside Blackwell and Thor, a famous Jensen Huang quotation, a royalty-based business model and a role as a key initial technology partner in Project Stargate. That combination points toward semiconductor intellectual property, not a company manufacturing wafers or assembling servers.
The same pitch is also branded as “Secret Supplier” and “One Chip to Rule Them All.” Those are different labels for the same promotion, so whichever phrase brought you here, the trail leads to the same company.
The stock behind NVIDIA’s “Secret Supplier”
The stock is Arm Holdings plc, ticker ARM.
The strongest clue is the architecture itself. Arm identifies NVIDIA’s Grace Blackwell systems as Armv9-based, while NVIDIA’s Thor documentation specifies an Arm Neoverse V3AE CPU paired with an integrated Blackwell GPU. That is a direct match for the promotion’s central hardware claim.
The corporate history fits too. NVIDIA and SoftBank ended NVIDIA’s proposed acquisition of Arm in February 2022, while NVIDIA retained a 20-year Arm license. In that announcement, Jensen Huang said, “I expect Arm to be the most important CPU architecture of the next decade.” OpenAI’s Stargate announcement then named Arm as one of the project’s key initial technology partners.
The pitch stretches several of those facts on the way to the cash-register music. The filings describe a 20-year license, not a supply contract; total royalty revenue, not $2 billion in AI royalties; and about 6,800 issued or co-owned patents across several areas, not nearly 7,000 patents exclusively guarding AI chips. The exaggerations are real, but they don't point to a different headline stock.
Also in this offer
The offer bundles a bonus report that teases its own stock. These get a sentence or two of copy each, so the evidence is much thinner than for the main pick and what follows is our best reading rather than a confident answer.
| Bonus report | Our best guess | Confidence |
|---|
| The Last Retirement Stock – AI Income for Life | TSM — Taiwan Semiconductor Manufacturing Company Limited | 24/100 — best guess |
Do the claims hold up?
The claim-by-claim table below separates the solid identification clues from the promotional upgrades. It also distinguishes what Arm and NVIDIA actually disclosed from what the copy adds to make the story sound larger.
That distinction matters here. The central relationship is genuine, while several of the biggest numbers change category, scope or meaning once checked against company filings and official announcements.
| The promotion claims | Verdict | What we found |
|---|
| Arm supplies the CPU architecture used in NVIDIA’s Blackwell and Thor systems | Checks out | Arm identifies NVIDIA’s Grace Blackwell systems as Armv9-based, while NVIDIA’s Thor documentation specifies an Arm Neoverse V3AE CPU and an integrated Blackwell GPU. |
| NVIDIA locked in a 20-year supply contract with Arm | Contradicted | NVIDIA’s February 2022 SEC filing and announcement say NVIDIA retained a 20-year Arm license; they do not describe a 20-year supply contract. |
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Claims the record contradicts
“NVIDIA locked in a 20-year supply contract with Arm” — NVIDIA’s February 2022 SEC filing and announcement say NVIDIA retained a 20-year Arm license; they do not describe a 20-year supply contract.
“SoftBank signed a $30 billion deal with Arm for custom AI accelerator chips” — SoftBank’s own materials describe up to $30 billion of planned investment in OpenAI, not Arm; the verified Arm-related chip transaction was SoftBank’s $6.5 billion acquisition of Ampere Computing.
“The firm’s AI royalties are 2,700 times higher than NVIDIA’s dividend” — TSMC’s published ADR dividends were roughly $0.80 to $1.10 per quarter, while NVIDIA’s older quarterly dividend was $0.01, producing roughly an 80-to-110-times comparison rather than 2,700 times.
Where the pitch outran the record
“NVIDIA tried to buy Arm, but the deal was blocked by the FTC” — The FTC sued in December 2021 to block NVIDIA’s proposed acquisition, but NVIDIA and SoftBank terminated the transaction in February 2022 after broader regulatory opposition rather than following a final FTC blocking judgment.
“Arm has almost 7,000 patents protecting its AI chips” — Arm’s Form 20-F reported approximately 6,800 issued or co-owned patents and about 2,700 pending applications, covering processor architecture and other fields; it did not say that nearly 7,000 patents specifically protect AI chips.
“Arm collects $2 billion in AI royalties from other firms’ chip sales every year” — Arm reported $2.61 billion of total royalty revenue for fiscal 2026, but its filings do not identify $2 billion as AI royalties specifically; the promoted figure conflates total royalties with AI royalties.
“Arm expects to power 50% of all data-center AI chips by year-end” — Arm said nearly 50% of new server chips shipped to top hyperscalers in 2025 were expected to be Arm-based; that is narrower than 50% of all data-center AI chips.
“The unnamed AI firm earns royalties from data centers, chip factories and AI computations” — TSMC’s company description and financial profile describe a semiconductor foundry that manufactures, packages and tests integrated circuits; they do not describe an Arm-like royalty-based CPU-IP business.
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The rest of the catalogue
The same company is being teased elsewhere as “The Next Magnificent Seven” by Alexander Green of The Oxford Club. Two grand titles, one stock.
That overlap is useful context before treating either promotion as an independent discovery. Both pitches are pointing readers toward Arm, even though they package the thesis differently.
Worth owning, or just worth pitching?
The promotion’s central claim is simple: NVIDIA’s AI chips rely on Arm’s architecture, Arm earns royalties as that ecosystem expands, and the resulting supplier economics could be even more lucrative than Blackwell itself.
The first two links hold. Arm’s CPU architecture is present in NVIDIA’s Grace Blackwell and Thor platforms, and Arm operates a royalty-based licensing business. Stargate also gives the company a real connection to the infrastructure race. This isn't a made-up relationship stitched together from vague AI buzzwords.
The chain breaks at the size of the payoff. Arm reported $2.61 billion in total royalty revenue for fiscal 2026, but its filings do not identify $2 billion of that as AI royalties. Likewise, nearly 50% of new server chips shipped to top hyperscalers in 2025 is not the same as 50% of all data-center AI chips. The promotion takes a narrower fact and inflates it until it fills the room.
On its own merits, Arm is a legitimate semiconductor IP business with meaningful exposure to data-center and AI adoption. That supports taking the company seriously, not accepting every number in the sales pitch. The filings establish an important architecture licensor; they do not establish a secret supply contract or a guaranteed royalty windfall.
How confident are we? 91 out of 100. We identified Arm Holdings plc (ARM) from the promotion's own clues and checked 13 of its claims against filings, earnings calls, ownership records, market data and public reporting. This is our analysis, not the publisher's disclosure — we have no relationship with them.
