Meta Acquiring Chip Startup Rivos to Boost AI Capabilities
Meta, the parent company of Facebook, is reportedly acquiring California chip startup Rivos. Neither company has commented on the terms of the deal yet. Meanwhile, Meta's stock is recommended as a buy by DER AKTIONÄR, with long-term price growth expected.
Meta's interest in Rivos lies in the startup's expertise in RISC-V architecture and its scalable, customizable chip designs. This acquisition aligns with Meta's strategy to invest more in artificial intelligence and reduce reliance on external suppliers like Nvidia.
Rivos, founded in 2019, specializes in creating high-performance, low-power chips using the open-source RISC-V instruction set. The company was seeking fresh capital in August, with a targeted valuation of two billion dollars. Meta's cash reserves, standing at around 47 billion dollars as of the end of the second quarter, make such an acquisition feasible.
Meta's acquisition of Rivos, if finalized, will bolster the company's capabilities in AI and chip technology. The deal is part of a broader trend of Meta increasing its investment in hardware and technology, following recent announcements of a smart glasses project with EssilorLuxottica and a billion-dollar deal with CoreWeave.
Read also:
- Industrial robots in China are being installed at a faster rate than in both the United States and the European Union, as the global market for these robots faces a downturn.
- Undeads Games Reaches $30 Million TVL and Gears Up for MMORPG Debut
- Hyundai N affirms transition to hybrid performance-centric models, initiating with Tucson N
- Bank of America reveals investigation into Zelle platform, hints at potential legal action
