Key Takeaways Shares of Arm surged Thursday following a report the chip designer is developing its own chip, with tech giant Meta set to be one of its first customers.Arm could showcase the new chip as early as this summer,

Meta is reportedly in talks to acquire a South Korean chip firm as the social media giant looks to bolster its AI hardware infrastructure.

Arm Holdings plans to launch its own chip this year after securing Meta Platforms as one of its first customers, in a major shift to its model of licensing its blueprints to other companies, the Financial Times reported on Thursday.