STORY: :: Meta
Meta is expanding its deal with chip designer Broadcom to build several generations of custom processors to power AI features across its apps.
The deal announced Tuesday extends their partnership through 2029.
:: Meta
It includes an initial commitment of more than one gigawatt of computing capacity - enough to power roughly 750,000 U.S. homes.
The agreement also brings a boardroom change.
Broadcom CEO Hock Tan will step down from Meta's board and take on an advisory role focused on custom chip strategy, according to a joint statement.
Meta chief Mark Zuckerberg said the deal helps build the computing backbone needed to supply "personal superintelligence to billions of people."
:: Meta
As AI drives soaring demand for computing, tech giants such as Meta, Google and Amazon are designing their own silicon to reduce reliance on Nvidia's expensive processors.
That shift has been a major boost for Broadcom, which develops custom chips and supplies infrastructure software.
Its shares were up 3.5% in extended trading, while those of Meta were little changed.
