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Arm is a "circuit designer"?

In the 1970s my title at Intel was Circuit Designer, which at that time meant that I designed DRAM chips at the transistor level. Another job title was Logic Designer, and they worked with gates. Eventually with languages like Verilog and VHDL, the title was RTL Designer. Newer titles are SoC Designer or even Architect. I would say that ARM offers processor IP used in mobile phones and IoT devices.
 
I don't have a subscription to the WSJ, so couldn't read the article. SoftBank paid way too much money for Arm at $32B in 2016, so let's see what the IPO raises.
 
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