Meta Platforms plans to manufacture its own artificial intelligence chip starting September. This initiative aims to significantly increase the company's overall computing power by next year. The custom-designed chip, code-named Iris, is part of a multi-generation project. Meta is working with Broadcom and Taiwan Semiconductor Manufacturing Co for design and production. This move seeks to reduce costs and gain independence from external chip suppliers.

Company worked with Broadcom and TSMC on design and manufacture of chip

Meta plans to put an in-house MTIA AI chip into production in September and roughly double its computing capacity, Reuters reports, deepening its push away from Nvidia.