EL7.AI
StocksMediumUpdated×3•Originally published 10 July 2026•Updated 11 July 2026•
2 min read

Meta Stock Gains as 'Iris' AI Chip Details Emerge with Broadcom and TSMC Partnerships

Key Facts

1Meta shares surged 6% on Friday and approximately 15% for the week as sentiment improved around the company's AI strategy.
2Meta released its new agentic model, Muse Spark 1.1, on Thursday, two days after unveiling Muse Image.

In a move that signals a strategic push to dominate AI infrastructure, new details have emerged regarding Meta Platforms' in-house AI chip, named 'Iris,' which is slated to begin production this September. According to reports, Meta is partnering with Broadcom for design assistance and TSMC for manufacturing, a move designed to reduce reliance on external vendors. This hardware momentum fueled a 6% daily surge in Meta's stock, bringing weekly gains to nearly 15%—its strongest weekly performance since early 2024.

Meta's pivot toward custom silicon is backed by massive scaling targets, as the company aims to deploy 7 gigawatts of computing capacity this year, doubling to 14 gigawatts by 2027. This aggressive roadmap has allowed Meta to outpace peers; Microsoft (MSFT) closed at $384.36 and Alphabet (GOOGL) at $358.89 per market data (close July 9, 2026). Analysts suggest that vertical integration through the Iris chip provides Meta a structural advantage over competitors like Apple (AAPL), which stood at $315.32 as of July 10, 2026.

Technically, META settled at $631.48 (close July 9, 2026), maintaining a bullish posture near its all-time highs. Market participants are now focusing on how these multi-gigawatt infrastructure investments will impact long-term margins, while keeping a close eye on upcoming ISM Services PMI data, which serves as a critical macro catalyst for high-growth technology valuations.