The UK-based chip designer pivots to selling its own chips, securing Meta as its first major customer, and challenging long-time industry partners.

The U.K.-headquartered chip design company Arm Holdings Plc. is reportedly planning to launch its first-ever complete semiconductor after securing Facebook’s parent company Meta Platforms Inc. as one of its first customers.

Meta signs on as an early customer Arm will unveil its first in-house chip later this year, marking a significant shift in its business model and potentially reshaping the semiconductor industry's competitive landscape.