Meta Platforms is trading at $655.24 (+3.76%) in pre-market after Reuters reported that its in-house Iris AI chip is set to enter production in September.
- Meta plans to double its computing capacity next year, reinforcing investor optimism regarding its long-term AI buildout and infrastructure scaling.
- The stock is also benefiting from a broader tech rebound and positive sentiment following the release of developer access to a new AI coding model.
- The move coincides with a 1.30% rise in the Nasdaq, driven by renewed strength across the semiconductor and growth sectors.