Meta and Broadcom Extend AI Chip Partnership; Hock Tan Steps Down from Meta Board
Meta and Broadcom have extended their partnership for the design of Meta's custom AI accelerators through 2029. Meta has committed to deploying one gigawatt of its AI accelerators, and Broadcom's CEO, Hock Tan, will not seek reelection to Meta's board. Broadcom shares rose 3% in extended trading following the announcement.
Topics: AI Accelerators Board Resignation Corporate Partnership Stock Price Movement