Meta’s In-House AI Chip Sparks Rally in Chip Equipment Stocks
The post Meta’s In-House AI Chip Sparks Rally in Chip Equipment Stocks appeared on BitcoinEthereumNews.com. Key Highlights Meta is set to launch production of its proprietary AI chip, dubbed “Iris,” this September Semiconductor equipment manufacturers Applied Materials, Lam Research, and KLA each climbed more than 4% following the announcement Lumentum dominated S&P 500 gains with a 12% surge Wall Street analysts boosted price targets for Applied Materials and Lam Research in response Industry forecasts predict the wafer fabrication equipment sector will expand from $145 billion in 2025 to $250 billion by 2028 Meta Platforms revealed its intention to commence production of “Iris,” a custom-designed AI processor, beginning in September. The disclosure triggered a substantial rally in semiconductor equipment manufacturers on Thursday. Applied Materials, Lam Research, and KLA—all major suppliers of wafer fabrication equipment used to transform silicon wafers into functional microchips—exp