Long term there is a huge market for server-oriented CPUs that can compete with Intel Xeon, which currently has a near monopoly in the server market. Note that a lot of companies are already working on this: Ampere (ARM), Amazon (Graviton3, etc.), and likely Nvidia, Rivos (RISC-V), etc.

The best of market ARM designs don't really compete head-to-head with Xeon right now, but there are still a ton of server applications where they make already make sense. As a simple example companies like Google and Facebook have hundreds of thousands of servers that are doing things like running memcached or running some application like D/GFS where the server is mostly just doing a lot of I/O and doesn't necessarily need really beefy single-threaded CPU performance.

Longer term obviously if there are ARM or RISC-V CPUs that can compete head-to-head with Xeon in terms of features and single threaded performance then that opens up pretty much the entire enterprise/server market.