Qualcomm turns positive amid report of Meta Platforms' chip struggles
Ethan Miller/Getty Images News


Qualcomm (QCOM
+0.2%) has pared losses and has moved moderately positive as a report on Meta Platforms' (FB
+0.9%) internal chip-design struggles reveals that Meta switched course toward a Qualcomm chip for a new version of its Ray-Ban (OTCPK:ESLOF) smart glasses.

Late last year the Meta team working on silicon for version 2 of the glasses was told the company was going with a Qualcomm custom chip that would power a number of functions, including taking high-quality photos and video, The Information reports.
But that switch would end up delaying the launch of the glasses, which is now expected next year, according to the report.
The decision came as a setback for the Facebook Agile Silicon Team, part of a Meta Platforms effort to cut its reliance on off-the-shelf silicon.
Qualcomm already supplied chips for Meta's Quest virtual reality headsets, Portal smart video devices, and the first version of Meta's Ray-Ban smart glasses.