Meta Platforms Announces Custom AI Chip Production and Supply Chain Expansion
Meta Platforms (META) is advancing its in-house AI development by planning to begin production of a custom chip named 'Iris' with support from Broadcom (AVGO) and manufacturing via Taiwan Semiconductor (TSM). The company aims to double computing capacity next year, but the stock fell after disclosing potential $145 billion spending on AI infrastructure.
Tickers: $AVGO $META $SNDK $TSM
Topics: AI chip development supply chain control