India, May 7 -- iPhone maker Apple, Inc. (AAPL) is said to be working on designing and producing its own Artificial Intelligence-powered chips to run AI software on servers at its data centers, according to a Wall Street Journal report on Tuesday.

The company, until now known for its iPhones, iPads, and Macs, is reportedly working with Taiwan Semiconductor Manufacturing Co. or TSMC, on this project code named internally as "ACDC" (Apple Chips in Data Center).

Apple has successfully designed chips that are being used in the iPhone, iPads and Mac laptops over the years. Apple will now leverage its expertise in chip design, with TSMC reportedly helping in the design and producing them.

Project ACDC has been in the works for several years an...