Nvidia Rises 4% to $210.96 on Friday as Meta Expands In-House AI Chip Plans

According to Reuters, Nvidia stock rose 4% to $210.96 on Friday, July 10, outpacing the Nasdaq Composite's 0.3% gain, despite Meta accelerating its self-developed AI chip rollout. Meta announced plans to begin mass production of its proprietary "Iris" AI accelerator as early as September, with expectations to double overall computing capacity to 14GW next year.

While Meta's self-designed chips—developed with Broadcom and manufactured by TSMC—focus on AI inference rather than model training, Benchmark Research analyst Cody Acree noted that hyperscalers' total AI capital expenditure is expected to more than double. "Although Nvidia's market share within Meta may decline, Meta's absolute spending on Nvidia chips should see significant continued growth," Acree said.