Meta Platforms (NASDAQ:META) is allegedly pursuing an acquisition of Rivos, a Santa Clara-based startup focused on building chips to power artificial intelligence data centers, according to Bloomberg.
The report, which cited people familiar with the deal, did not feature any details of the possible transaction. Rivos, which develops graphics processing units, was pursuing new funding this summer in hopes of reaching a $2B valuation.
Meta has bought hundreds of thousands of GPUs from Nvidia (NVDA) and lesser numbers from Advanced Micro Devices (AMD). Its capital expenditures for 2025 are expected to top $70B as it pursues its AI goals. Meta has also been working to develop its own AI chips.
Rivos was founded in 2021. Its platform is designed on scalable system-on-chip architecture, which supports AI training, reasoning and data analytics. Its engineering team is supported by industry veterans with experience at tech titans such as Google (GOOG)(GOOGL), Intel (INTC), AMD and Arm (ARM).
Earlier this year, Meta reportedly attempted to buy the Korean chip startup FuriosaAI for $800M. However, the eight-year-old company decided to stay independent and raise capital before eventually pursuing an initial public offering.
Seeking Alpha reached out to Meta for comment.