AMD, Intel in the spotlight as Arm said to secure Meta as chip project customer

Shares of AMD (AMD) and Intel (INTC) are in the spotlight on Thursday following a news report saying Arm (ARM) plans to launch its own chip this year after securing Meta (META) as one of its first customers. This is a radical change to the SoftBank (SFTBY)-owned group’s business model of licensing its blueprints to the likes of Apple (AAPL) and Nvidia (NVDA), Financial Times’ Tim Bradshaw and David Keohane report. Rene Haas, Arm chief executive, will unveil the first chip that it has made in-house as early as this summer, according to people familiar with the plans. Arm’s chip is expected to be a central processing unit for servers in large data centers and is built on a base which can then be customized for clients including Meta, according to those familiar with the plans. Production will be outsourced to a manufacturer such as TSMC (TSM), these people said. In afternoon trading, shares of Arm have gained over 45 to $162.37, Intel’s stock has advanced about 9% to $24.48, and AMD has slipped about 1% to $111.02.