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Meta Launches Iris AI Chip, Targets 14GW Compute Expansion; Stock Up 4.7%

AI Industry News Stocks

2026-07-10 02:29:44

META6.01%

According to Beating, Meta announced yesterday that it will launch its self-developed AI chip Iris in September and expand compute capacity from 7GW this year to 14GW by 2027. The company also began charging developers for access to its Muse Spark 1.1 large language model via API, marking its first direct monetization of AI model services. Meta's stock rose 4.7% following the announcements, as investors shifted focus to potential cost reductions from in-house chip production and expanded revenue streams from advertising and model API sales.

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