According to a report by Bloomberg, Meta’s internal chip development has not progressed as quickly as CEO Mark Zuckerberg would have liked.
Meta Platforms (META) is reportedly acquiring a startup called Rivos, which is developing its own graphics processing units.
According to a report by Bloomberg, citing people familiar with the matter, Meta’s internal chip development has not progressed as quickly as CEO Mark Zuckerberg would have liked. It added that the company has reportedly been exploring acquisitions, such as Rivos, to bolster its internal team and accelerate chip development efforts.
META’s stock dipped nearly 2% in afternoon trade with retail sentiment on Stocktwits trending in ‘bullish’ territory over the past day.
According to Bloomberg, the terms of the deal are not yet known. The Information reported in August that the startup was seeking new funding at a $2 billion valuation. Like others in the industry, Meta has been pushing to develop its own custom AI inference chips to reduce its dependency on Nvidia (NVDA) as a part of its broader push towards “superintelligence.”
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