Arm shares rise on report that Meta will buy its first chip

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Outside view of the newly completed Metas Facebook data center in Eagle Mountain, Utah on July 18, 2024. The semiconductor company currently licenses its technology, called an instruction set, as well as more complicated core designs, to its customers so they can build their own chips. Arm has historically been known as the "Switzerland" of chip technology firms, a reputation it received by dealing neutrally with competing chipmakers. Company leadership has told investors that its looking to sell more advanced technology to its existing customers to grow revenue. Arm is also a technology partner of the Stargate initiative, which plans to spend as much as $500 billion building AI infrastructure for OpenAI.

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