Arm Secures Meta as First Customer for Innovative Chip Project, According to FT

Arm's stocks rose by 5% following news that Meta will be its inaugural customer for a novel chip. This initial Arm chip will serve as a central processing unit for expansive data center servers and is scheduled for introduction this summer, as per the Financial Times. The decision to manufacture its own chip marks a notable departure from Arm's usual practice of licensing designs to other companies. Masayoshi Son of SoftBank envisions Arm venturing into chip production to potentially rival Intel and Advanced Micro Devices in the AI infrastructure sector.