Group 1 - Meta is reportedly in talks to acquire FuriosaAI, a South Korean chip startup, to enhance its AI hardware infrastructure [1] - FuriosaAI has raised 90 billion Korean won (approximately $61.94 million) from investors, including Naver [2] - The acquisition aims to reduce Meta's reliance on Nvidia and complements its in-house efforts to develop efficient AI accelerator chips [3] Group 2 - FuriosaAI develops chips that accelerate the running and serving of AI models, including Meta's Llama 2 and Llama 3 [1] - Meta plans to spend up to $65 billion this year to support its AI initiatives [3] - FuriosaAI is engaged with potential customers in the U.S., Japan, and India [2]

Meta Platforms (NASDAQ: META) has extended its historic rally, closing higher for the 17th consecutive session and marking its longest winning streak ever. The stock has surged 18% during this run and is now up 22% year-to-date, closing at $719.80 on February 11.The record-breaking rally, which began on January 16, 2025, took Meta ahead of its Magnificent Seven peers, making it the best-performing stock in the group this year. Over the past 12 months, Meta’s stock has climbed 53%, pushing its market capital ...

Shares of Meta Platforms Inc. META have skyrocketed by 17.47% over the last 17 days, reregistering one of the longest winning streaks for the company led by Mark Zuckerberg, according to Benzinga Pro. What Happened: The stock trades at $719.80 apiece as of Tuesday’s close, which is about 0.7% shy of its 52-week high of $725.01 per share.Despite the constant surge in the stock, Meta’s over-optimistic momentum indicators hint at a likely pullback.The company’s simple daily moving averages hinted at a bullish ...

Core Viewpoint - Meta is in discussions to acquire South Korean AI chip startup FuriosaAI, which could enhance its custom chip initiatives amid a shortage of Nvidia chips and increasing demand for alternatives [1][2]. Company Overview - FuriosaAI, founded in 2017, is led by June Paik, who has a background with Samsung Electronics and AMD. As of the latest public filing, Paik holds an 18.4% stake in the company [4]. - The startup recently raised 2 billion won (approximately $1.4 million) from CRIT Ventures, bringing its total venture funding to about 170 billion won (around $115 million) [3]. Product Development - FuriosaAI introduced its RNGD chip, designed to operate with a thermal design power (TDP) of just 150 watts, significantly lower than cutting-edge GPUs that can consume up to 1,200 watts. This chip is aimed at large-scale deployment of advanced generative AI models like Meta's Llama 2 and Llama 3 [5]. - The RNGD chip claims to deliver three times better performance per watt compared to Nvidia's H100 GPUs, and it is equipped with HBM3 chips from SK Hynix, essential for AI computing [6]. Financial Performance - In 2023, FuriosaAI reported a revenue increase of over 10 times to 3.6 billion won, while its losses narrowed to 63.7 billion won from 51.2 billion won [7]. Market Context - The potential acquisition aligns with trends where major tech companies like Meta, Google Cloud, and Amazon Web Services are developing their own custom chips [8]. - The acquisition comes shortly after FuriosaAI's competitor, Rebellions, merged with SK Hynix-backed Sapeon, creating South Korea's first AI chip unicorn [9].

Meta laid off about 4,000 workers on Monday in a performance-based job cutting spree — but several impacted staffers claimed they had received glowing feedback from their managers just last year, according to a report.Zuckerberg revealed the layoffs — which slashed Meta’s workforce by 5% — in January, telling staffers he “decided to raise the bar on performance management,” taking a more “hardcore” approach to weeding out low performers, like fellow tech billionaire Elon Musk at his companies.Some affected ...

Meta Platforms Inc META is rewriting the record books. The stock notched its 16th straight winning session on Monday, the longest streak among the Magnificent Seven. At $717.40, it's knocking on the door of its all-time high of $725.01—and Wall Street can't seem to get enough.Resilient to AI Jitters, Thriving on AI GrowthEven as AI-driven sell-offs rattled the tech sector — like when Chinese startup DeepSeek blindsided Nvidia Corp NVDA — Meta held its ground.Unlike chipmakers, who live and die by AI hardwar ...

Meta (NASDAQ: META ) reported its Q4 earnings on Jan 30th and many people, almost everyone is talking about their impressive revenue growth, improving ads efficiency and things like that. I guess because they just see Meta as a social mediaWe bring a rigorous research-driven approach to uncovering high-conviction stocks with compelling growth potential across dynamic sectors like big tech, semiconductors, AI, and healthcare. Leveraging comprehensive sector insights, We analyze both low-risk and selective hi ...

Some Meta workers impacted by Monday's job cuts were surprised since they had strong track records.Meta's layoffs targeted 5% of low performers. Some higher-rated staff said they were "blindsided."Meta CEO Mark Zuckerberg has been pushing to streamline the company's workforce.Several Meta employees who said they received positive performance ratings in their mid-year reviews last year had their jobs cut Monday, as the company let go of nearly 4,000 workers in its latest round of job reductions. Business Ins ...

Meta began notifying employees affected by its previously announced job cuts on Monday (Feb. 10).The company’s emails notifying those who were being let go marked the beginning of a process that is expected to continue through the end of Meta’s performance cycle that goes to the end of February and result in terminations of as many as 3,600 employees, Bloomberg reported Monday.While U.S. staffers are being notified Monday, international employees could learn later, according to the report.With this headcoun ...

Internal Meta memo shows the company is ramping up hiring of engineers as it cuts thousands of jobs.Meta wants to "expedite recruiting" of machine learning engineers in the coming weeks, per the memo.The hiring comes as Meta started notifying employees this week if they have been impacted by its cuts.Meta is ramping up hiring for machine learning engineers while slashing thousands of jobs. Last month, Meta said it would eliminate about 5% of its workforce, which could mean almost 4,000 employees lose their ...