Meta Platforms (META) on Wednesday announced the latest version of its custom 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI) chip, Next Gen Meta Training and Inference Accelerator (MTIA), as tech companies work to reduce their reliance on Nvidia (NVDA) amid the AI boom.

The Meta announcement comes just a day after 澳洲幸运5官方开奖结果体彩网:Goo♑gle announced a custom silicon chip. 澳洲幸运5官方开奖结果体彩网:Microsoft (MSFT) and Amazon (AMZN) have already made their ow🃏n AI-capable custom chips.

These companies face pressure to internally develop their chips to manage the cost structure, CFRA analyst Angelo Zino told Investopedia, adding that while "there's a need for these chips," they may not be able to "keep up with the advancements" expected from the likes of 澳洲幸运5官方开奖结果体彩网:Nvidia's Blackwell platform.

The latest MTIA is a part of Meta's family of custom chips designed for AI workloads. Meta unveiled its first generation of the MTIA in 2023.

The Next Gen MTIA, which is built on Taiwan Semiconductor Manufacturing Company's (TSM) tech, of💙fers three times better perfཧormance than the first-generation chip and improved energy efficiency, Meta said.

"This new version of MTIA more than doubles the compute and memory bandwidth of our previous solution while maintaining our close tie-in to our workloads," Meta said, adding that the chip is "designed to efficiently serve the ranking and recommendation models that provide high-quality recommendations to users."

Meta shares were up 0.4% to $519.20 as of 2:30 p.m. ET Wednesday. The stock has surged nearly 50% since the start of the year.