Meta Platforms Inc. (NASDAQ:META) and Broadcom Inc. (NASDAQ:AVGO) shares climbed in Tuesday's extended trading following news of an expanded multi-year partnership to co-develop the industry's first 2nm AI compute accelerator. 

The deal marks the foundation of a multi-gigawatt infrastructure rollout through 2029, supporting Meta's next-generation MTIA (Meta Training and Inference Accelerator) chips.

The companies said Broadcom's XPU custom accelerator and networking solutions will form the backbone of Meta's AI data centers, designed to handle massive training and inference workloads for real-time generative AI features.

“Meta is partnering with Broadcom across chip design, packaging, and networking to build out the massive computing foundation we need to deliver personal superintelligence to billions of people,” said Meta CEO Mark Zuckerberg. 

As part of the expansion, Broadcom CEO Hock Tan will step down from Meta's board to serve as an advisor on its custom silicon roadmap.

AVGO Price Action: According to Benzinga Pro data, Broadcom shares were up 3.02% to $392.26 in after-hours trading on Tuesday. Meta shares were mostly flat after gaining 4.41% in Tuesday's regular trading session. 

Image created using artificial intelligence via Gemini.