Following up on rumors of a $800 Apple netbook, MacBook, iTablet, etc. VentureBeat reports that Apple might also use the new platform to introduce their long-rumored custom system-on-a-chip.

This would be the result of Apple purchasing fabless chip design firm Palo Alto Semiconductor (PA Semi) and hiring Papermaster from IBM and graphics processor (GPU) gurus x2 from AMD/ATI (though whether or not it includes the ARM and PowerVR licenses for cores found in the iPhone and iPod touch, or beefier Intel chips found in the Mac line is uncertain).

While Steve Jobs said PA Semi was going to be used for iPods and iPhones, VentureBeat claims the team was actually split in two, half for iPod/iPhone and half for the tablet.

TUAW speculates that, given recent news of problems between Apple and Nvidia, who currently makes the Mac integrated chipsets, perhaps Apple will push the custom work into that line as well.

Either way, we’ve seen the huge benefit shared software technology has provided for the iPhone and Mac (Spotlight, QuickTime X to name but two), Apple going in-house with the chipsets could be just as beneficial…

Something seriously smoking be going on round Apple way if the latest story from The Inquirer (via MacRumors) is to be believed:

We’ve just heard from sources deep inside 1 Infinite Loop in Cupertino, California that [Raja Koduri, AMD/ATI Chief Technology Officer, Graphics Product Group] is heading there.

So for those keeping score at home, this adds to:

• PA Semi lower-power PPC chipset designer: bought
• ARM cpu: licensed
• PowerVR GPU graphics core: licensed
• Mark Papermaster, IBM chip guru: hired
• Bob Drebin, AMD/ATI graphics guru: hired

Steve Jobs has said Apple is working on their own systems-on-chip for future iPhones and iPod touches. Looks like that work has got some serious hardware, and talent behind it.

Our only question is, what’s going to melt the universe first, the Hadron Collider, or whatever Apple’s got cooking up in their basement?

The Inquirer (via iLounge) is reporting that AMD (formerly ATI) Graphics Products Group CTO Bob Drebin has updated his LinkedIn page to show he’s found a new home — at Apple.

This is another in an increasingly long line of chip-related acquisitions, licensing deals, and staffing additions Apple has made in the chipset arena in the last year, including buying PA Semi, licensing ARM and PowerVR, and hiring Mark Papermaster.

Even though leaked specs for the next gen iPhone suggest previous iPhone chip-maker Infineon is still on board for now, it’s fairly clear Apple is looking to make changes further out on the product road map.

Our editor-in-chief, Dieter Bohn, is wondering what they think they know about chips that nobody else does, driving them to move this in house?

We’re guessing it combines Apple’s desire for control and hardware customization/differentiation. Why do you think, and more importantly, what do you think Apple is going to do with all this firepower under the iPhone (and iPod touch) hood?