Meta commits to one gigawatt of custom chips with Broadcom as Hock Tan agrees to leave board

Meta and Broadcom on Tuesday announced a sweeping deal that extends an existing partnership between the two companies for the design of Meta's custom in-house AI accelerators through 2029.

At the same time, Meta said Broadcom's CEO, Hock Tan, told Meta last week that he has decided not to stand for reelection to Meta's board. Tan joined Meta's board in 2024.

Meta has committed to deploy a gigawatt of its Training and Inference Accelerators according to a statement.

Broadcom shares rose 3% in extended trading after the announcement.