11:47 AM EDT, 04/10/2024 (MT Newswires) -- (Updates with the chips' capability in the third paragraph.)

Meta Platforms ( META ) on Wednesday introduced its next generation of chips designed for its AI workloads.

"The latest version significantly improves performance compared to the last generation and helps power our ranking and recommendation ads models on Facebook and Instagram," the company announced on its website.

The new version more than doubles the compute and memory bandwidth of the previous version, the company said.

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