To enlighten investors on the impact of these breakthroughs and the opportunities they should create, we began publishing Big Ideas in 2017. This annual research report seeks to highlight

Revenue 
(Millions
, USD)
Total Server Revenue
x86
ARM/RISC-V
Legacy

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•
By 2030, The Accelerator Should 
Replace The CPU As The Main 
Server Compute Engine
Forecasts are inherently limited and cannot be relied upon.
Source: ARK Investment Management LLC, 2020
19
The Re-Invention of the Data Center
•
Accelerators, such as GPUs, Tensor 
Processing Units (TPUs), and field 
programmable gate arrays (FPGAs), perform 
the most demanding computing tasks 
including artificial intelligence (AI), 
analytics, drug discovery, and cloud gaming.
•
Despite intense competition, ARK believes 
that GPUs will continue to dominate the 
accelerator market during the next five 
years thanks to their unmatched 
programmability and software stack.
$30
$27
$17
$24
$17
$24
$15
$21
$6
$41
$0
$28
$56
$84
$112
$140
2020
2030
Server Bill of Materials (Billions, USD)
Potential Server Spending Over The Next Ten Years
CPU
Memory
Storage
Other
Accelerator
21%
CAGR
-1%
CAGR

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•
Forecasts are inherently limited and cannot be relied upon. 
For informational purposes only and should not be considered investment advice, or a recommendation to buy, sell or hold any particular security. 
Source: ARK Investment Management LLC, 2020 based on data sourced from company quarterly filings by Nvidia, Intel, AMD, and others.
20