AMD old CPUs (to be replaced by the end of the year) have 192 cores per socket, where each core is significantly faster than Neoverse V3.
The latest Intel server CPU, Clearwater Forest, uses Darkmont cores that have approximately the same performance, cost and power consumption as Neoverse V3, but Intel provides 288 cores per socket and 576 cores per board.
Even supposing that Intel Xeons would be used in relatively big 2U servers, that still provides at least 50% more cores per rack than these new Arm AGI CPUs.
The claim of Arm that they provide better performance per rack is false. They must have compared their new CPUs with some antique Intel Granite Rapids Xeon CPUs, instead of comparing with state-of-the-art Intel and AMD CPUs, which offer much more performance per rack than the new Arm AGI.