Arm Ltd, a chip technology firm owned by SoftBank Group, has launched its data center chip technology called Neoverse V2 to meet the growth of data from 5G and IoT.

Arm creates underlying intellectual property that other firms such as Qualcomm or Apple then license to create their own processor chips. Arm’s technology powers most mobile phones, but it has been making a big push into data center processors where Intel and Advanced Micro Devices (AMD) have dominated.

Arm said companies like Ampere, Amazon, Fujitsu and Alibaba already develop processor chips based on Arm technology for their data centers. Arm said Neoverse V2 increases power efficiency, though it declined to provide specific numbers.

“Our partners are taking this and building very efficient solutions to target the problem spaces that they’re going after,” Dermot O’Driscoll, Arm’s vice president for product solutions, said during a Q&A session about the new product. “So we do expect to see some pretty compelling data points going from V1 to V2.”

Arm said that chip giant Nvidia’s latest data center processor Grace is built using the Neoverse V2 design. Nvidia’s Grace datacenter CPU will combine the power efficiency of V2 with the power efficiency of LPDDR5X memory to deliver 2x performance per watt over servers powered by traditional architectures.

Arm said all major public clouds are offering instances based on Neoverse.

Arm said it is providing leading performance at reduced power, greater throughput, which results in critical TCO benefits — in the 5G RAN and wireless infrastructure.

“This enables partners to customize products for applications and use cases ranging from small cells, macro cells, to private networks, Chris Bergey, SVP and GM, Infrastructure Line of Business, Arm, said in a blog post.

Arm 5G Solutions Lab is working with leaders in the 5G ecosystem like Dish Wireless, Google Cloud, Marvell, NXP, and Vodafone to accelerate 5G networks on Arm.