Meta, Broadcom Deepen Ties on Chips; Tan Departs Meta Board (1)

Meta Platforms Inc. announced an expanded multibillion-dollar partnership with Broadcom Inc. to design and build custom chips to power the social media giant’s artificial intelligence efforts.

The companies also said that Broadcom Chief Executive Officer Hock Tan will leave Meta’s board of directors when his term expires at the company’s annual meeting.

The partnership includes a commitment to develop chips that will provide more than 1 gigawatt of computing capacity, the companies said Tuesday in a statement. The arrangement is expected to be the first part of a sustained rollout worth billions of dollars, according to a person familiar ...