Meta Platforms plans to start manufacturing an artificial intelligence chip from September as part of its plan to boost overall computing power to 14 gigawatts next year, showed an internal memo reviewed by Reuters. The chip, code-named "Iris", is part of a four-generation project for Meta Training and Inference Accelerators (MTIA) designed in-house. Meta is working with Broadcom to help design it and Taiwan Semiconductor Manufacturing Co to manufacture it. The chip is aimed at augmenting the large quantities of graphics processing units (GPUs) used for AI applications that Meta purchases from Nvidia and AMD. Meta this year plans to deploy seven gigawatts of computing infrastructure, the memo showed, and plans to double that number in 2027. The firm expects to spend as much as $145 billion on AI infrastructure this year. Meta has secured long-term, multi-year supply agreements with Samsung Electronics for memory chips, Sandisk for flash storage and Sumitomo Electric for fiber-optic equipment.