‘This is how it is not confusing to call Meta or Facebook’.
It’s been 8 months since Facebook changed the company’s name to Meta Platforms Inc, in a bid to become a leader in the metaverse virtual world.
Shares of companies listed in the Nasdaq Composite index are also seen to remain under the ticker name ‘FB’ since its initial public offering in 2012 to date.
However, starting June 9, the ticker name for Meta Platforms Inc shares listed on Wall Street will be changed to ‘META’.
This was confirmed by a company representative on May 31.
In separate news, JP Morgan analysts confirmed that Meta Platforms Inc has entered into an agreement with Broadcom Inc that will supply special hardware chips for the metaverse.
It is understood that Broadcom will supply a special chip, an application -specific integrated circuit (ASIC) that has driven revenue of $ 2 billion to $ 2.5 billion this year for the company.
According to sources, ASIC chips are specially designed to perform heavy -duty specialized tasks including artificial intelligence (AI) and machine learning.
Through the deal also Meta will pay $ 1 billion a year for the chip, and will become Broadcom’s ASIC customer within 3 to 4 years after Google Alphabet Inc.
Previously, Broadcom and Google worked together to produce a special chip for machine learning purposes since 2016, and the chip is now believed to be worth $ 1.3 billion.
The reality is, with the changes taking place to Meta Platforms Inc and the new agreement, it is not surprising that the metaverse ideology will be implemented as early as the next few years.
