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Meta AI chip production set to begin in September
Meta reported Q1 EPS of $10.44, up 56.8% versus a $6.66 consensus, as revenue rose 33.1% year over year to $56.31 billion.
Meta Platforms is expected to begin mass-producing its Iris AI chip in September, according to a market commentary published by Yahoo Finance.
The piece ties the chip timeline to Meta’s ad-driven position, noting that the company served 3.56 billion people across Facebook, Instagram, WhatsApp, and Threads each quarter, which supports advertiser demand.
It also points to Meta’s most recent quarter as evidence of strength: Q1 EPS came in at $10.44 versus a $6.66 consensus, a 56.79% beat, with revenue at $56.31 billion, up 33.1% year over year.
The commentary highlights operating metrics and shareholder returns, citing operating margin of 41.4%, return on equity of 30.24%, and Q1 dividends of $1.35 billion, alongside $26.25 billion in buybacks through 2025.