Meta Platforms will begin manufacturing its in-house AI chip, code-named "Iris," in September as part of an ambitious plan to double its total computing infrastructure to 14 gigawatts by 2027, according to an internal memo reviewed by Reuters. The chip — the fourth generation of Meta's in-house accelerator programme — passed bug-testing in just six weeks with no major issues, and is being designed with Broadcom and manufactured by Taiwan Semiconductor Manufacturing Co (TSMC), the world's leading contract chipmaker. The move is intended to reduce Meta's dependence on external suppliers such as Nvidia and AMD, and help manage surging costs as the company expects to spend up to $145 billion on AI infrastructure this year alone.