Meta Platforms shares surged nearly 7.5% in Friday's trading session, climbing to $677.9 on the Nasdaq.
The sharp advance extended the stock's winning streak to a second consecutive session, driven by reports that the social media giant is preparing to begin manufacturing its custom artificial intelligence chip, code-named Iris.
According to media reports, Meta has partnered with Broadcom and TSMC to produce the new silicon.
The move aims to significantly boost the company's computing capacity, reducing reliance on third-party suppliers for its AI infrastructure.
The announcement marks a tangible milestone in Meta's long-term strategy to control its own hardware stack for large language models and other AI workloads.
The positive reception from investors contrasts with recent volatility.