A&M is ranked #35 in this new update by Time Magazine and Statista.

https://time.com/collection/best-colleges-for-future-leaders-2025/

Arizona State ahead of Vanderbilt, Rice, Cal-Tech, Georgia Tech, Johns Hopkins, and a bunch of University of Californias.

Looks like it is really B Schools and Law Schools, Arizona State listed high because of Thunderbird and Carey. There is a big difference from the school and the Honors program there as well. That's also why you see some of the schools listed lower that are more Engineering and Medical focused as they don't seem to count towards their metric.