The CPUs in Raspberry Pi 1-3 are not affected.
ARM11, Cortex-A7, Cortex-A5
Raspberry Pi 3 (and Pi 2 v1.2) uses a Broadcom BCM2837 SoC with a 1.2 GHz 64-bit quad-core ARM Cortex-A53 processor.
According to ARM website https://developer.arm.com/support/security-update it especially says
"*Only affected cores are listed, all other Arm cores are NOT affected.*"
"Cortex-R7, Cortex-R8, Cortex-A8, Cortex-A9, Cortex-A15, Cortex-A17, Cortex-A57, Cortex-A72, Cortex-A73, Cortex-A75"
and older Raspberry Pi devices
But it looks like I confused the Cortex-A7 with the Cortex-R7, which is not listed.