From Nasdaq:

Meta Platforms added Broadcom CEO Hock Tan to its board of directors. Meta revealed that they spent about $500 million on components and design services from Broadcom in 2023. Nvidia holds the top market share in all-purpose AI chips, but Meta, Google, Amazon.com, and Microsoft are also designing specialized custom chips.

Broadcom CEO Hock Tan has used his company as a corporate vehicle to build an empire of loosely related technology companies. Broadcomm recently closed a $69 billion deal to purchase VMware and cut about 1,300 jobs. Meta also appointed John Arnold, a former energy trading executive at Enron, to its board of directors.

These new appointments come after recent reports that Nvidia is courting custom chip clients. The technology to create chips that move and crunch data quickly has become a key battleground as AI systems ingest huge amounts of information. The company is focusing on creating specialized custom chips to complement Nvidia’s offerings.



Read more: Meta adds exec from key chip partner to board