The ARM business model isn't that profitable. Intel's market cap right now is about 240 billion, 6 times the amount Nvidia is paying for ARM.
so what? yahoo was a giant in its heyday. blackberry was the king with its phone. no empire stay on top forever.
Apple/Amazon created its own cpu. ARM killing it in mobile space.
intel is the king right now but with more and more its customers design their own cpu. how long before intel fall?
If you compare net income instead of mkt. cap Intel is ahead by 70 times (instead of 6) and is relatively undervalued compared to other tech companies.