The Trust Project is a worldwide group of news organizations working to establish transparency standards.
Meta and American chipmaker Qualcomm announced a collaboration to design and manufacture customized chipsets for the tech giant’s extended reality platform.
Both companies were present at IFA 2022 in Berlin, where they signed a multi-year partnership agreement. IFA is Europe’s biggest technology convention for consumer electronics and home appliances. This year, the notable features were folding screens, robot mascots, and smart homes.
Meta’s relationship with Qualcomm didn’t begin at IFA. Qualcomm produces the Snapdragon XR2 chip, an essential component powering Meta’s VR Quest 2 headset.
The new deal means that Meta won’t be producing its own processors for its metaverse projects. Similarly, Microsoft also uses chips from Qualcomm for its AR division. On the other hand, companies like Google, Apple, and NVIDIA design and produce their own chips.
“Unlike mobile phones, building virtual reality brings novel, multi-dimensional challenges in spatial computing, cost, and form factor. These chipsets will help us keep pushing virtual reality to its limits and deliver awesome experiences,” Meta CEO Mark Zuckerberg stated.
Meta will also benefit from this partnership by working closely with an industry leader in chip production, so Meta employees will get some insider knowledge. However, business projects between the two companies extend beyond XR. Meta and Qualcomm also work together on augmented reality (AR) products.
“As we continue to build more advanced capabilities and experiences for virtual and augmented reality, it has become more important to build specialized technologies to power our future VR headsets and other devices,”Zuckerberg said.
In July, Meta reported a significant $2.8 billion quarterly loss in its VR subsidiary, Reality Labs. That same week, Meta announced that since August 1, the retail price of the Quest 2 headset would increase by $100, a total of $399.
Last month, Meta ended an era of being a major debtless firm as it launched its first bond offer. The big tech raised $10 billion with the bond debut. One of the reasons behind the bond offering was its current financial troubles mentioned before. With this investment and Qualcomm’s partnership, Zuckerberg can continue his quest for the perfect metaverse.
Read related posts:
Any data, text, or other content on this page is provided as general market information and not as investment advice. Past performance is not necessarily an indicator of future results.