The cost of the CPU is small part of a server TCO. Graviton instances could be cheaper because the platform is cheaper, uses less power and needs less cooling - I think we know from Apple Silicon that ARM chips can have these advantages.
Disclaimer: I work for AWS but I don't have any internal knowledge about Graviton pricing and non-public performance data.
Disclaimer: I work for AWS but I don't have any internal knowledge about Graviton pricing and non-public performance data.