Meta and OpenAI will be among the first customers of Arm’s long-awaited new AI processor, which the SoftBank-backed tech group projects will be the main driver of a fivefold increase in revenue over the next five years.
Shares in Arm rallied after chief executive Rene Haas unveiled the financial forecasts around the high-stakes shift in strategy, from designing chips for other companies to producing its own “AGI CPU”, in San Francisco on Tuesday.
The launch of the chip will create a new rival not only to the traditional central processing units made by Silicon Valley stalwarts Intel and AMD but also several of the chip designer’s own customers, including Nvidia, Google and Amazon.
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